- Bank stocks rally after Goldman Sachs (GS +8.2%) and Bank of America (BAC +7.3%) turn in better-than-expected earnings and wiping out most of their December decline.
- Financial Select Sector SPDR ETF (NYSEARCA:XLF) rises 2.5% in early afternoon trading and touches its highest point in more than a month. The last time it reached $25.51 was Dec. 7.
- The SPDR S&P Bank ETF (NYSEARCA:KBE), mostly regional banks, advances 2.4%.
- All the big banks gain: Morgan Stanley (NYSE:MS), which reports Q4 results Thursday, rises 4.6%; Wells Fargo (WFC +3.2%), JPMorgan Chase (JPM +1.5%), Citigroup (C +1.7%).
- Among regional banks, Comerica (CMA +4.8%) jumps on an earnings beat; with Bank OZK (OZK +3.4%), Huntington Bancshares (HBAN +2.8%), and KeyCorp (KEY +2.9%) advancing strongly.
- PNC Financial (PNC +0.2%) slips on weaker-than-expected Q4 results.
- ETFs: XLF, FAS, FAZ, VFH, UYG, FNCL, IYF, BTO, IYG, RYF, FXO, SEF, FINU, RWW-OLD, FINZ, JHMF
- Now read: Comerica Inc . 2018 Q4 - Results - Earnings Call Slides
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