SPDR S&P Regional Bank Index drops more than the broad market.
Regional-bank stocks on Friday lagged the broader market but rose from lows earlier in the day, as Wall Street reacted to a rise in Treasury yields driven by a stronger-than-expected September jobs report.
For the week, the SPDR Regional Banking ETF is down 2.2%, the KBW Nasdaq Bank Index is down by 3.4%, while the S&P 500 has fallen 0.5%. On Friday, JPMorgan Chase & Co. JPM, +1.81% rose 1.3%, Bank of America Corp. BAC, +0.33% rose 0.8% and Goldman Sachs Group Inc. GS, +1.34% rose by 0.9%. Higher bond yields impact the fair value of bank bond portfolios, while increasing unrealized losses on the bank’s loan portfolio. These factors also put pressure on deposit costs and present a headwind on net interest income.
The yield on the 2-year Treasury BX:TMUBMUSD02Y dropped from earlier levels but held on to a gain of 4.4 basis points to 5.067% on Friday, from 5.023% in the previous day.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Jobs Report Today: Economy Added 336K Jobs in September; Dow Futures Fall in ResponseLive coverage of what's moving stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Les mer »
Jobs Report Today: Economy Added 336K Jobs in September; Dow Futures Fall in ResponseLive coverage of what's moving stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Les mer »
September jobs report: 336,000 jobs added, far above forecastFollow along as MarketWatch analyzes the September jobs report that is set for release by the Labor Department.
Les mer »
CNBC Daily Open: Much depends on the September jobs reportIf September’s jobs report skews toward the hotter side, the Federal Reserve might hike rates again, trigger uncomfortable aftershocks in markets.
Les mer »
CNBC Daily Open: The September jobs report is keyIf September's jobs report skews toward the hotter side, the Federal Reserve might hike rates again, trigger uncomfortable aftershocks in markets.
Les mer »
Forex Today: US Dollar consolidates losses ahead of September jobs reportHere is what you need to know on Friday, October 6: The US Dollar (USD) weakened against its major rivals for the second consecutive on Thursday befor
Les mer »