Banks are ‘too cheap,’ could outperform S&P 500 in recession, Oppenheimer says

Bank stocks have sold off this year on fears that a looming recession will rock the sector with surging loan defaults. But that reflex is an example of recency bias and ignores a few key differences in the US financial industry after the 2008 financial crisis, Oppenheimer analyst Chris Kotowski said Friday in a research … Read more

Citi, Wells Fargo, Sunrun and more

Citigroup offices in New York City. Adam Jeffery | CNBC Check out the companies making headlines in midday trading. Pinterest – Shares of the image-sharing social media company surged 15% on a report from the Wall Street Journal that Elliott Management has acquired a more than 9% stake. Citigroup – Citigroup rallied 11% after second-quarter … Read more

Here are the top dividend stock picks from the biggest investors during market turmoil

The appeal for high-dividend stocks is growing fast as the market’s turmoil and surging inflation shows no signs of easing. Most on Wall Street expect a bumpy road ahead with low, if not negative, returns as the central bank rapidly hikes interest rates to combat soaring prices at the risk of slowing the economy. During … Read more

Another hot inflation report Q2 earnings make for difficult week ahead

Traders on the floor of the NYSE, June 29, 2022. Source: NYSE Consumer inflation data and the start of the second quarter earnings season could be two catalysts that make for a bumpy ride in markets in the week ahead. PepsiCo’s earnings are the first major report of the week Tuesday, and Delta Air Lines … Read more

Citigroup shares jump 5% after Warren Buffett reveals a near $3 billion stake in the struggling bank

Berkshire Hathaway Chairman and CEO Warren Buffett. Andrew Harnik | AP The 91-year-old “Oracle of Omaha” scooped up Citi shares while they have been underperforming the rest of the financial sector in the past 12 months. The stock is down nearly 40% while the Financial Select Sector SPDR Fund is off by 12% over the … Read more

These stocks could provide 'downside protection' as inflation soars, Bernstein says

As surging inflation puts significant pressure on margins, Bernstein names stocks with pricing power that could outperform.

Big banks’ earnings and a hot inflation report could sway markets in short holiday week

A trader on the NYSE, March 11, 2022. Source: NYSE Markets face what could be a hot inflation report in the week ahead and a batch of big bank earnings to start the earnings season. JPMorgan Chase and BlackRock kick off the financial industry’s first-quarter earnings releases Wednesday, with Citigroup, Wells Fargo, Morgan Stanley and … Read more

This is why the stock market is rebounding on Wednesday

Key events, including Federal Reserve Chair Jerome Powell’s testimony before Congress, are contributing to the rally.