Bank stocks have gotten slammed, but Goldman says it's a perfect time to buy
Bank stocks have taken a dive lately as investors assume a wait-and-see approach ahead of second quarter earnings from the space coming out soon. But the weakness may be the opportune time to strike on a select few bank names, according to Goldman Sachs."We continue to see further upside to the group, given: the improving outlook for economic growth should result in both higher interest rate and loan growth optionality being priced into bank stocks; and the June rotation out of value back into
S&P 500 winning streak extends to sixth straight record close
NEW YORK - The S&P 500 reached its sixth consecutive all-time closing high on Thursday, as a new quarter and the second half of the year began with upbeat economic data and a broad-based rally.Investors now eye Friday’s much-anticipated employment report.The bellwether index is enjoying its longest winning streak since early February, and the last time it logged six straight all-time highs was last August.“Historical data shows if you have a strong first half, the second half of the year was ac
The S&P 500 notched another record high on Tuesday amid bullish economic data but retreated toward the flat line later in the session as Wall Street continued its recent period of low volatility.The broad market index ticked up less than 0.1% to 4,291.80, good enough for its fourth-straight record close. The Dow Jones Industrial Average finished with a gain of about 9 points after being up more than 100 points earlier in the session, closing at 34,292.29. The tech-heavy Nasdaq Composite added ab