SPDR S&P Regional Banking ETF (ARCA: KRE)

Ultime notizie per SPDR S&P Regional Banking ETF (ARCA:KRE)

SPDR S&P Regional Banking ETF

Financial Services

In seeking to track the performance of the S&P Regional Banks Select Industry Index (the index), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the regional banks segment of the S&P Total Market Index (S&P TMI).

Columbia Banking System Inc Common Stock

Western Alliance Bancorp

Valley National Bancorp

Synovus Financial Corp

Zions Bancorp Na

East West Bancorp, Inc.

Truist Financial Corp.

Citizens Financial Group Inc.

Webster Financial Corp

Bank Ozk

Huntington Bancshares Inc./Oh

M&t Bank Corp.

Regions Financial Corp.

First Horizon National Corp

State Street Institutional US Government Money Market Fund

New York Community Bancorp, Inc., Series C

Large Cap

Macro Economic Events

Sector ETFs

Bonds

Broad U.S. Equity ETFs

Commodities

Currency ETFs

Forex

Small Cap

Treasuries

Economics

Federal Reserve

Tech

ETFs

iShares Trust Barclays 20+ Year Treasury Bond Fund

PowerShares DB US Dollar Index Bullish Fund

I dati sull&#39;occupazione USA deludono e provocano il crollo dei mercati globali: segnali di debolezza economica e rischi geopolitici.

Dati deludenti sull&#39;occupazione USA e i mercati crollano

KonaRed Corp

KKR Real Estate Finance Trust Inc. Common Stock

KKR Real Estate Finance Trust Inc

KKR Real Estate Finance Trust Inc. 6.50% Series A Cumulative Redeemable Preferred Stock

Keppel REIT

News

U.S. Bank Regulators Announce Plans To Rescind 2023 Updated Community Reinvestment Act Rules, Reinstate Prior Regulatory Framework

<a href="https://www.theinformation.com/articles/europes-banks-unlike-u-s-rivals-play-with-deepseek" title="https://www.theinformation.com/articles/europes-banks-unlike-u-s-rivals-play-with-deepseek">https://www.theinformation.com/articles/europes-banks-unlike-u-s-rivals-play-with-deepseek</a>

'Europe's Banks, Unlike U.S. Rivals, Play With DeepSeek' - The Information

U.S. Treasury's Bessent Says Banking Supervisors Should Analyze Supplementary Leverage Restrictions; Will Use FSOC To Drive Regulatory Change; Banks Have Been Weighed Down By Unduly Burdensome Regulatory Requirements, Broken Supervisory Culture

U.S. Treasury's Bessent Says Refocusing Banking Supervision Does Not Mean Consolidation Of Agencies, But Coordination Via Treasury

Fed's Hammack Says Discount Window Is A 'Very Helpful Tool' For Banks When Needed

Fed's Musalem Says Bank System Reserves Still Look Abundant

Wall Street banks are unfazed by the <a href="https://www.benzinga.com/startups/25/02/43690898/trade-war-2-0-why-trumps-tariff-plans-could-be-worse-than-2018">administration&#8217;s tariff policy</a> and are hopeful that the White House&#8217;s legislative agenda will benefit them, according to Bank of America analyst Ebrahim H. Poonawala.
The Banking Analyst: In a note published Thursday, Poonawala noted how optimistic Wall Street banks were at the recent Bank of America financial services conference.
Main Takeaways: Executives from over 30 banks seemed to agree that looser regulations will lead to financial teams having more time to pursue growth opportunities rather than deal with compliance. 
See Also: <a href="https://www.benzinga.com/startups/25/02/43690898/trade-war-2-0-why-trumps-tariff-plans-could-be-worse-than-2018">Trade War 2.0? Why Trump&#8217;s Tariff Plans Could Be Worse Than 2018</a>
&#8220;Our takeaway based on meetings with 30+ Wall Street/Main Street banks during BofA&#8217;s 33rd annual financial services conference was that despite the recent tariff headlines, there remains continued optimism that a pro-business Trump administration (on taxes, regulations) should drive strengthening customer activity,&#8221; the analyst said.
The analyst mentioned yield curve spreads rather than treasury futures as the more important metric to estimate future bank performance.
&#8220;While bank stocks appear to sell off on rising US Treasury yields, our conversations with mgmt teams support our view that a steeper yield curve should be a net positive for net interest income growth and net interest margins. Deposit pricing competition remains subdued with a pick-up in loan growth seen as a potential catalyst that could change this dynamic,&#8221; the analyst said.
Poonawala noted that &#8220;receptivity&#8221; toward Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) due to the companies&#8217; integrated business models.
Regional banks, as reflected by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), should also benefit, the analyst says. However, regionals will likely need a catalyst to boost current valuations.
Poonawala, in his note, did not mention the Trump administration&#8217;s <a href="https://www.benzinga.com/25/02/43586493/jpmorgan-bofa-equifax-honda-block-and-many-more-may-get-relief-after-cfpb-dissolution-as-director-vought-halts-activities-maryland-senator-says-will-ensure-the-body-continues-to-fight-for-consumers">recent shut-down</a> of the Consumer Financial Protection Bureau (CFPB). The agency was formed in the aftermath of the 2008 financial crisis as a necessary watchdog to keep financial institutions in check — much to the <a href="https://www.benzinga.com/startups/24/11/42024453/if-youre-in-a-knife-fight-you-better-damn-well-bring-a-knife-jpmorgan-ceo-jamie-dimon-calls-for-a-stand-against-regulation">dismay of top bank CEOs</a>.
Over the years, the CFPB has <a href="https://www.consumerfinance.gov/about-us/blog/twelve-years-of-protecting-consumers-and-honest-businesses/#:~:text=Here%27s%20a%20look%20at%20some,CFPB%20enforcement%20and%20supervision%20work">recovered</a> over $17.5 billion for bank consumers affected by fraudulent or predatory practices. It has also <a href="https://www.consumerreports.org/consumer-protection/how-cfpb-changes-could-impact-consumers-a2527371632/?utm_source=chatgpt.com">established</a> rules to limit overdraft fees and reduce credit card late fees, aiming to protect consumers from excessive charges.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43692996/inflation-fears-mount-as-producer-prices-soar-to-35-put-fed-interest-rate-cut-on-ice">Inflation Fears Grow As Producer Prices Rise To 3.5%, Clouding Fed Interest Rate Cut Hopes</a></li>
</ul>
Image: Shutterstock

Analyst Color

Government

Analyst Ratings

Bank Brass Expect Trump Deregulatory Agenda To 'Strengthen Customer Activity': Analyst

Fed Chair Powell Says We Don't Know What End Intention Is On CFPB; If CFPB Goes Away There Would Not Be A Federal Regulator To Examine Big Banks On Consumer Protection

Fed Chair Powell Says We Try As Hard As We Can To Make Sure Heavier Regulation Applied To Bigger Banks Slip Down To Smaller Banks; Tailoring Is A Basic Value At The Fed

Fed Chair Powell Says It Would Be Inappropriate For Fed To Pressure Banks On Lending Decisions Based On Political Considerations

Fed Chair Powell Says Basel III Gives A Global Floor On Banking Capital, To Avoid A Race To The Bottom;  Says It's Time To Move On The Enhanced Supplementary Leverage Ratio

$BTC

$ETH

Fed Chair Powell Says We Don't Want To Get In The Way Of Banks Serving Perfectly Legal Customers Using Crypto; When Banks Take Crtypo Activities On Their Own, It's Appropriate To Make Sure We Understand Risks; On The Other Hand, Don't Want To Go So Far As To Overplay Your Hand; Many Of These Activities On Crypto Can Very Well Be Done At Banks

Fed Chair Powell Says Fed Will Carry On With Regulatory, Supervisory Duties; Plan To Repropose Basel III End Game; Plan To Repropose Basel III Once Other Regulators In Place; Capital For Banks Is About Right; I Would Be Very Careful With Monetary Policy Rules; They Are A Starting Point, Not An Ending Point

<a href="https://www.bloomberg.com/news/articles/2025-02-06/fed-tells-banks-they-won-t-need-to-do-climate-stress-tests?srnd=phx-fixed-income" title="https://www.bloomberg.com/news/articles/2025-02-06/fed-tells-banks-they-won-t-need-to-do-climate-stress-tests?srnd=phx-fixed-income">https://www.bloomberg.com/news/articles/2025-02-06/fed-tells-banks-they-won-t-need-to-do-climate-stress-tests?srnd=phx-fixed-income</a>

"Fed Tells Banks They Won't Need to Do Climate Stress Tests; US central bank initiated the pilot program two years ago; Decision impacts lenders, including JPMorgan and Citigroup" - Bloomberg News

'Big Banks Trying To Sell Up To $3B In X Debt They Hold From Elon Musk Deal; Morgan Stanley Bankers Calling Investors To Set Up X Debt Sale Next Week; Morgan Stanley, Other Lenders Hope To Sell Debt At 90c-95c On The Dollar, Sources Say'

<a href="https://www.cnbc.com/2025/01/24/sec-revokes-unpopular-banking-rule-that-blocked-wall-street-banks-from-adopting-crypto.html">https://www.cnbc.com/2025/01/24/sec-revokes-unpopular-banking-rule-that-blocked-wall-street-banks-from-adopting-crypto.html</a>
&nbsp;
<ul>
<li>The U.S. Securities and Exchange Commission has rescinded an accounting rule that forced banks to treat bitcoin and other tokens as a liability on their balance sheets.</li>
<li>The guidance was a major deterrent to Wall Street banks owning bitcoin.</li>
<li>The rule was introduced in 2022 and subjected digital assets to strict capital requirements, significantly raising the financial and regulatory risks of offering crypto custody services.</li>
</ul>
&nbsp;
After years of lobbying by the crypto industry, the U.S. Securities and Exchange Commission has rescinded an accounting rule that forced banks to treat <a href="https://www.cnbc.com/quotes/BTC.CM=/">bitcoin</a> and other tokens as a liability on their balance sheets.
The guidance was a major deterrent to Wall Street banks owning bitcoin — and was the latest in a string of actions taken by the new Trump administration to make it easier for U.S. companies and financial firms to deal in virtual, decentralized currencies.
&nbsp;
The guidance, known as Staff Accounting Bulletin 121, or SAB 121, was introduced in 2022 and subjected digital assets to strict capital requirements. The measure, which significantly raised the financial and regulatory risks of offering crypto custody services, boosted operational costs for financial institutions and ultimately discouraged broader participation by Wall Street in crypto markets.
Efforts to overturn SAB 121 gained bipartisan support in Congress last year. But&nbsp;<a href="https://www.cnbc.com/joe-biden/">then-President Joe Biden</a>&nbsp;vetoed the proposed legislation, leaving the rule intact and further discouraging banks from adopting digital assets. Banks have been largely forbidden from expanding their crypto offerings beyond derivatives trading and offering ETFs to wealth management clients.
SEC Commissioner Hester Peirce, who <a href="https://www.cnbc.com/2025/01/21/trumps-sec-launching-crypto-task-force-to-develop-clear-regulations-for-industry.html">on Tuesday</a> was tapped to lead a new "crypto task force" within the agency aimed at "developing a comprehensive and clear regulatory framework for crypto assets," praised the announcement.
"Bye, bye SAB 121! It's not been fun," she wrote in a <a href="https://x.com/HesterPeirce/status/1882562977985114185">post on X</a> late Thursday night following the decision.
The SEC's decision to revoke the rule was announced in a <a href="https://www.sec.gov/rules-regulations/staff-guidance/staff-accounting-bulletins/staff-accounting-bulletin-122">public notice</a>, just days after Gary Gensler, a former SEC Chair and vocal supporter of the measure, stepped down from his role. Gensler had defended the rule as necessary to protect investors in the event of crypto firm bankruptcies.
&nbsp;
<a href="https://www.cnbc.com/2025/01/24/trump-crypto-plans-have-wall-street-ceos-excited-about-digital-assets.html">This week</a> in Davos, Switzerland, <a href="https://www.cnbc.com/quotes/GS/">Goldman Sachs</a>&nbsp;CEO David Solomon told CNBC that from a regulatory perspective, the bank couldn't own bitcoin and that it would revisit the issue if the rules changed. The CEOs of&nbsp;<a href="https://www.cnbc.com/quotes/MS/">Morgan Stanley</a> and <a href="https://www.cnbc.com/quotes/BAC/">Bank of America</a> also weighed in from the World Economic Forum on how President <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a>'s pro-crypto tone could reshape their plans and potentially lead to expanded digital offerings.
&nbsp;

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Markets

'SEC Revokes Unpopular Banking Rule That Blocked Wall Street Banks From Adopting Crypto' - CNBC

U.S. banks delivered another round of strong fourth-quarter earnings Thursday, with Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>), and PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) all surpassing <a href="https://www.benzinga.com/earnings">Wall Street earnings estimates.</a>
The results reinforced the sector's resilience, yet financial stocks showed a mixed reaction after Wednesday's sharp rally.
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which tracks major banks, inched up 0.1% Thursday after a 2.6% gain the previous day. Meanwhile, regional banks, tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), dipped 0.7% following Wednesday's rally.
The reports followed upbeat earnings from Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), which fueled the biggest one-day surge in financial stocks since November.
Market strategist Ed Yardeni said the earnings reflected a "pickup in investment banking and markets activity as business confidence improved." He added that consumer loan growth remained slightly stronger than commercial loan growth.
<h3 class="wp-block-heading">Morgan Stanley Rides Trading Boom To Blowout Quarter</h3>
Morgan Stanley posted earnings per share of $2.22, crushing the $1.70 forecast. Revenue climbed to $16.22 billion, exceeding expectations by nearly 8%, according to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011625&amp;t=be2bearmibe3na1">Benzinga Pro</a> data. 
Its trading business drove the beat. Equities sales and trading revenue soared to $3.33 billion, easily topping the $2.63 billion estimate. Fixed income trading also outperformed, generating $1.93 billion versus the $1.68 billion forecast.
Wealth management, a key pillar of Morgan Stanley's business, delivered $7.48 billion in revenue, slightly above the $7.32 billion estimate. Net interest income hit $2.55 billion, well ahead of the $2 billion forecast.
The bank kept costs in check, with compensation expenses at $5.95 billion, lower than the projected $6.64 billion.
Shares rose 1.2%, extending Wednesday's 4.8% surge.
Read Also: <a href="https://www.benzinga.com/news/large-cap/25/01/43029150/morgan-stanley-q4-earnings-profit-doubles-ceo-calls-it-one-of-strongest-years-aims-for-prudent-dividend-growth">Morgan Stanley Q4 Earnings: Profit Doubles, CEO Calls It One Of Strongest Years, Aims For Prudent Dividend Growth</a>
<h3 class="wp-block-heading">Bank of America Tops Estimates, But 2025 Outlook In Focus</h3>
Bank of America also delivered a strong quarter, reporting EPS of 82 cents, above the 77 cents forecast. Revenue net of interest expenses came in at $25.35 billion, slightly exceeding expectations.
Key business lines performed well. Net interest income reached $14.36 billion, ahead of the $14.12 billion estimate. Investment banking revenue also beat, coming in at $1.65 billion versus the $1.47 billion forecast.
Goldman Sachs analyst Richard Ramsden noted that the results were "better than expected, given 1% higher NII and fees," but indicated that pre-provision net revenue of $8.4 billion fell 2% short of estimates. He added that investors would focus on expense and interest income guidance for 2025.
Bank of America shares were 0.7% lower, following Wednesday's 2.8% rally.
Read also: <a href="https://www.benzinga.com/25/01/43026092/bank-of-america-q4-earnings-67-billion-profit-revenue-jumps-15-investment-banking-and-deposit-growth">Bank of America Q4 Earnings: $6.7 Billion Profit, $1.7 Billion In Investment banking fees, Forecasts Higher NII In 2025</a>
<h3 class="wp-block-heading">PNC, U.S. Bancorp, First Horizon Deliver Mixed Results</h3>
PNC Financial Services posted EPS of $3.77, beating the $3.33 estimate. Revenue of $5.57 billion edged out expectations, but shares slipped 3.8% after gaining 2.4% on Wednesday.
U.S. Bancorp delivered EPS of $1.07, slightly above the $1.05 forecast, but revenue of $6.98 billion came in just below the $7 billion estimate. The stock was down 6.6% at the time of publication Thursday, after a 3.8% jump Wednesday.
First Horizon posted EPS of 43 cents, beating estimates of 39 cents, but revenue disappointed at $729 million, well short of the $820.7 million forecast. Shares were flat, following a 2.7% gain on Wednesday.
Read now: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43027744/retail-sales-slow-jobless-claims-rise-is-us-consumer-loosing-steam">Retail Sales Disappoint, Jobless Claims Rise: Is US Consumer Losing Steam?</a></li>
</ul>
Photo: Shutterstock

Earnings

Mid Cap

Big Banks Continue To Beat Q4 Earnings As Financial ETF Takes A Breather

Wall Street staged a strong rebound on Wednesday, as mixed inflation data bolstered investor confidence in the Federal Reserve's continuation of easing cycle in 2025, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">easing recent market anxieties.</a>
The headline Consumer Price Index rose 2.9% year-over-year in December, up from November&#8217;s 2.7% and aligning with economist forecasts. On a monthly basis, headline inflation increased by 0.4%, up from November&#8217;s 0.3%, marking the sharpest monthly rise since March 2024.
The inflation report strengthened market expectations for Fed rate cuts in 2025. The probability of a rate cut by June climbed to 63%, up from 55% the previous day, with December futures now pricing in a 50% chance of two rate cuts.
The S&amp;P 500 advanced 1.5% by midday trading in New York, and the Dow Jones followed suit with a similar gain, both supported by strength in financial stocks. The Nasdaq 100 outperformed, rising 1.9%, while small-cap stocks posted a 1.7% gain.
Key financial giants, including JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), and BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), exceeded Wall Street's <a href="https://www.benzinga.com/news/earnings/25/01/43007354/big-banks-crush-q4-earnings-forecasts-financial-stocks-set-for-biggest-1-day-rally-since-trumps-election">fourth-quarter 2024 earnings expectations.</a>
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) surged nearly 2.2%, leading all S&amp;P 500 sectors and recording its strongest one-day gain in over two months.
In the bond market, yields on the 2-year Treasury note, which is highly sensitive to interest rate expectations, fell 9 basis points to 4.28%, while 30-year yields dropped 8 basis points to 4.89%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) gained 1.3% as bond prices rose.
The U.S. Dollar Index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), remained flat, with dollar strength against the euro offset by weakness versus the yen.
West Texas Intermediate — as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) — rallied 2%, hitting $80 a barrel during the day amid a stronger-than-expected drop in commercial crude stocks last week.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) jumped 2.6%, nearing $99,000, buoyed by optimism surrounding potential Fed rate cuts. Meanwhile, gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), gained 0.5%. 
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>21,142.06</td>
<td>1.9%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,257.59</td>
<td>1.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,932.76</td>
<td>1.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,153.53</td>
<td>1.5%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:15 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011525&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 1.5% to $590.96.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 1.5% to $431.31.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rallied 1.9% to $514.49.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) increased 1.8% to $223.77.</li>
<li>The&nbsp;Financial Select Sector SPDR Fund outperformed, up 1.2%; the&nbsp;Consumer Staples Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) lagged, down 0.3%.</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Citigroup Inc. rallied over 7%, in reaction to stronger-than-expected earnings, marking the strongest performance within the S&amp;P 500 index.</li>
<li>Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) rose 6.9% after RBC raised its 12-month price target to $641. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares climbed more than 5% after RBC increased its price target for the stock from $313 to $440, while reaffirming its outperform rating.</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43006771/bitcoin-up-to-99000-is-loving-inflation-data-release-xrp-dogecoin-follow-higher">Bitcoin Up To $99,000 &#8216;Is Loving&#8217; Inflation Data Release, XRP, Dogecoin Follow Higher</a></li>
</ul>
Photo: Shutterstock

Equities

Econ #s

SPDR Dow Jones Industrial Average ETF Trust

ISRG

TSLA

Wall Street Rallies As Treasury Yields Fall, Banks Smash Q4 Earnings, Oil Hits $80: What's Driving Markets Wednesday?

Major U.S. banks reported strong fourth-quarter 2024 earnings on Wednesday, with better-than-expected results across the board <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42984073/banks-kick-off-earnings-season-on-wednesday-retail-traders-bet-big-on-financials-ahead-of-regulatory-tailwinds">and upbeat 2025 guidance. </a>
The performance was driven by robust net interest income (NII), resilient fee revenue, and disciplined expense management. 
These positive earnings results sent financial stocks higher, with the Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) rising 1.9% on Wednesday, eyeing the strongest one-day rally since Nov. 6, 2024, when financial stocks rallied in response to Donald Trump&#8216;s victory at the presidential elections.
The SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) jumped 3.1%, reflecting strength among regional banks.
<h3 class="wp-block-heading">Bank Earnings In Focus</h3>
JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) reported fourth-quarter earnings per share of $4.81, far exceeding the consensus estimate of $4.11, representing a 17% surprise, according to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent011525&amp;t=be2bearmibe3na1">Benzinga Pro</a> data.
Revenue came in at $43.74 billion, beating estimates by 4.9%. The bank's strong performance was attributed to higher NII, which totaled $94 billion for 2025 guidance, above expectations, along with lower-than-anticipated credit costs.
The world&#8217;s largest bank repurchased $4 billion in shares during the quarter, bringing its Common Equity Tier 1 ratio to 15.8%, up 30 basis points quarter-over-quarter.
Shares of JPMorgan Chase &amp; Co. rose 0.5% by 10:00 a.m. in New York. 
Read also: <a href="https://www.benzinga.com/25/01/43000684/jpmorgan-q4-earnings-shine-investment-banking-revenue-jumps-46-yy-jamie-dimon-says-inflation-may-persist-for-some-time">JPMorgan Chase Q4 Earnings: Investment Banking Revenue Jumps 46%, CEO Jamie Dimon Says &#8216;Inflation May Persist For Some Time&#8217;</a>
Goldman Sachs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) delivered a standout performance with EPS of $11.95, a sharp 45.4% surprise over the $8.22 consensus. Revenue reached $13.87 billion, 11.9% above estimates, driven by strong trading revenue, up by 13%, and better-than-expected equity underwriting, up 41%.
According to Bank of America analysts, Goldman remains &#8220;a favored way to gain exposure to rebounding investment banking activity.&#8221;
The bank repurchased $2 billion in shares and ended the quarter with a 15% CET1 ratio. Return on equity for 2024 stood at 12.5%, slightly below the bank&#8217;s mid-teens target but still solid.
Goldman Sachs rallied 6% in response to fourth-quarter results, reaching highs last seen in early December 2024 and eyeing the strongest 1-day rally since Nov. 6 2024.
Read also: <a href="https://www.benzinga.com/news/earnings/25/01/43000353/goldman-sachs-q4-earnings-equity-and-debt-underwriting-fuel-revenue-boost-assets-under-management-hit-record-314-trillion">Goldman Sachs Q4 Earnings: Underwriting Boosts Revenue, Assets Reach Record $3.14 Trillion</a>
Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) posted EPS of $1.42, beating estimates by 5.2%, driven by stronger-than-expected NII and fee revenue. 
Overall revenue was slightly below estimates at $20.38 billion, yet the bank's 2025 guidance surprised to the upside, with NII expected to grow 1-3% year-over-year, implying $48.98 billion—higher than analyst expectations.
Wells Fargo's CET1 ratio stood at 11.1%, down 20 basis points quarter-over-quarter, but the bank returned $4 billion to shareholders through buybacks. 
Credit trends remained stable, and expenses were well-managed, positioning the bank for a solid year ahead.
Shares of Wells Fargo roared 5.7% to early December highs. 
Read Also: <a href="https://www.benzinga.com/news/earnings/25/01/43002392/wells-fargo-q4-earnings-investors-cheer-50-jump-in-net-profit-roe-improvement-bank-expects-up-to-3-jump-in-2025-nii">Wells Fargo Q4 Earnings: Investors Cheer 50% Jump In Net Profit, ROE Improvement, Bank Expects Up To 3% Jump In 2025 NII</a>
Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) reported EPS of $1.34, beating the $1.22 consensus by 9.8%, while revenue of $19.58 billion narrowly exceeded expectations. 
The results reflected solid execution across the bank's core operations, with a particular boost from strong trading revenues.
Though the bank still faces challenges in certain areas, analysts at Bank of America see improving operational efficiency and regulatory easing as potential tailwinds. 
Citigroup's stock rose 5.7% following the earnings release, reflecting growing investor optimism.
Read also: <a href="https://www.benzinga.com/news/buybacks/25/01/43002760/citigroup-q4-earnings-12-topline-growth-2-9-billion-net-income-20-billion-share-buyback-gains-in-wealth-and-market-segments">Citigroup Q4 Earnings: 12% Topline Growth, $2.9 Billion Net Income, $20 Billion Share Buyback, Gains In Wealth And Market Segments</a>
Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) posted EPS of $1.72, exceeding estimates by 10.3%, while revenue of $4.85 billion beat projections by 4.2%. The results were driven by robust pre-provision net revenue growth, up 9.5% year-over-year, fueled by NII growth of nearly 14%.
The bank achieved its medium-term targets of a 33% pre-tax margin and 23% return on tangible common equity (ROTCE), highlighting disciplined expense management. 
Shareholder returns were also strong, with $1.1 billion returned in the fourth quarter, including $750 million in buybacks.
Shares rallied by 5.7%, eyeing their highest one-day surge since July 2022. 
<h3 class="wp-block-heading">Looking Ahead</h3>
The market spotlight will shift to Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), First Horizon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>), PNC Financial Services Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), and M&amp;T Bank Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>) all slated to report earnings on Thursday, before the market open. 
Here's what investors will be watching, according to Benzinga Pro data:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Bank</th>
<th>Estimated Revenue</th>
<th>Estimated EPS</th>
</tr>
</thead>
<tbody>
<tr>
<td>Bank of America Corp.</td>
<td>$25.24 billion</td>
<td>$0.77</td>
</tr>
<tr>
<td>Morgan Stanley</td>
<td>$15.03 billion</td>
<td>$1.70</td>
</tr>
<tr>
<td>PNC Financial Services Group Inc.</td>
<td>$5.50 billion</td>
<td>$3.33</td>
</tr>
<tr>
<td>U.S. Bancorp</td>
<td>$6.99 billion</td>
<td>$1.05</td>
</tr>
<tr>
<td>M&amp;T Bank Corp.</td>
<td>$2.34 billion</td>
<td>$3.73</td>
</tr>
<tr>
<td>First Horizon Corp.</td>
<td>$820.7 million</td>
<td>$0.39</td>
</tr>
</tbody>
</table>
</figure>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/25/01/42997625/blackrock-beats-q4-estimates-fueled-by-record-inflows-116-trillion-aum-milestone">BlackRock Q4 Earnings: Record Inflows Fuel Revenue And Earnings Beat, AUM Hits $11.6 Trillion Milestone</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Big Banks Crush Q4 Earnings Forecasts: Financial Stocks Set For Biggest 1-Day Rally Since Trump's Election

Major indices rallied on Wednesday after December inflation data showed underlying price pressures slowing, reducing fears of a prolonged pause in interest rate cuts <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43001512/inflation-rises-to-29-in-december-core-slows-yet-rising-energy-costs-put-feds-target-at-risk">by the Federal Reserve. </a>
The headline Consumer Price Index rose 2.9% year-over-year in December, up from November's 2.7%, matching economist forecasts. On a monthly basis, headline inflation increased 0.4%, accelerating from the 0.3% surge in November and marking the largest monthly rise since March 2024.
Core inflation, which excludes volatile food and energy prices, rose 3.2% year-over-year, slightly below the expected 3.3%. Month-over-month, core prices gained 0.2%, in line with forecasts.
The inflation data boosted expectations for Fed rate cuts in 2025. The probability of a rate cut by June rose to 68% from 55% the previous day, with December futures now indicating a 58% chance of two cuts by year-end.
<h3 class="wp-block-heading">Wall Street Gains As Bond Yields Retreat, Financial Stocks Soar</h3>
The S&amp;P 500 index – as tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) – surged 1.5% in early New York trading, led by financial stocks after major banks reported strong fourth-quarter earnings.
JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Citigroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), Wells Fargo &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) and BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) all topped earnings forecasts for the fourth quarter and released upbeat guidance, reiterating that the financial sector thrived heading to the end of last year.
The Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>) rose 2.2%, leading all S&amp;P 500 sectors, while the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) jumped 3.4%, reflecting strong performance among regional banks.
The Dow rose 1.6%, while the Russell 2000 index outperformed, climbing 2.6%. Tech stocks, tracked by the Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), gained 1.7%, boosted by falling Treasury yields.
Yields on the policy-sensitive 2-year Treasury note fell 9 basis points to 4.27%, while 30-year yields dropped 9 basis points to 4.88%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) gained 1.6% as bond prices rallied.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rose 2% to over $99,000, supported by rising hopes for Fed rate cuts. Gold, tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), added 0.5%.
<h3 class="wp-block-heading">Top Movers</h3>
S&amp;P 500 Gainers:
<ul>
<li>Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): +5.85%</li>
<li>BlackRock Inc.: +5.54%</li>
<li>Assurant Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIZ#NYSE">AIZ</a>): +5.49%</li>
<li>Bio-Techne Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NASDAQ">TECH</a>): +5.36%</li>
<li>Citigroup Inc.: +5.16%</li>
</ul>
Nasdaq 100 Movers:
<ul>
<li>Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>): +4.62%</li>
<li>Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>): +4.60%</li>
<li>AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>): +4.43%</li>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>): +4.30%</li>
<li>The Trade Desk Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>): +3.39%</li>
</ul>
Top Gainers In The Invesco KBW Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NYSE">KBWB</a>):
<ul>
<li>Citigroup Inc.: +5.27%</li>
<li>Wells Fargo &amp; Co.: +4.80%</li>
<li>Bank of New York Mellon Corp.: +4.35%</li>
<li>Western Alliance Bancorp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>): +4.13%</li>
<li>Goldman Sachs Group Inc.: +4.02%</li>
</ul>
Read now: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43000684/jpmorgan-q4-earnings-shine-investment-banking-revenue-jumps-46-yy-jamie-dimon-says-inflation-may-persist-for-some-time">JPMorgan Chase Q4 Earnings: Investment Banking Revenue Jumps 46%, CEO Jamie Dimon Says &#8216;Inflation May Persist For Some Time&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

CPRT

KBWB

PLTR

TECH

Stocks Rise On Core Inflation Slowdown, Banks Rally After Strong Q4 Earnings, Treasury Yields Plummet

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