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Emfirefamily
Emfirefamily
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2022-01-07
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US Banks Q4 Earnings Preview: JPM, WFC, C, MS, and GS
While a few companies’ results have been trickling in already, Q4 earnings season kicks off in earne
US Banks Q4 Earnings Preview: JPM, WFC, C, MS, and GS
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Emfirefamily
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2021-08-03
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2021-08-02
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Emfirefamily
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2021-07-30
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Emfirefamily
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2021-07-29
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S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes
NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after th
S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes
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2021-07-28
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2021-07-27
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2021-07-25
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Emfirefamily
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2021-07-23
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Emfirefamily
Emfirefamily
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2021-07-21
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Behind The Market's Furious Reversal: Record High Skew
At the end of June, when the S&P was making new all time highs day after day, and when the VIX was t
Behind The Market's Furious Reversal: Record High Skew
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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1641534283,"share":"https://ttm.financial/m/news/1109557687?lang=&edition=fundamental","pubTime":"2022-01-07 13:44","market":"us","language":"en","title":"US Banks Q4 Earnings Preview: JPM, WFC, C, MS, and GS","url":"https://stock-news.laohu8.com/highlight/detail?id=1109557687","media":"Tiger Newspress","summary":"While a few companies’ results have been trickling in already, Q4 earnings season kicks off in earne","content":"<html><head></head><body><p>While a few companies’ results have been trickling in already, Q4 earnings season kicks off in earnest starting on January 14th, when the major US banks start to report. As the repository for excess cash and the go-to place for new loans, banks serve as a bellwether for the “Main Street” economy as a whole.</p><p><b>Big U.S. banks expected to post uptick in core Q4 revenues on economic rebound</b></p><p>Analysts expect big U.S. banks to show an uptick in fourth quarter core revenues thanks to new lending and firming Treasury yields even while headline earnings will be mixed on differences in how each institution accounted for pandemic loan losses.</p><p>On Friday, JPMorgan Chase & Co and Citigroup Inc are expected to post roughly 20% and 30% declines, respectively, in profits compared with the year-earlier quarter, while Bank of America Corp's profits will be up 20% when it reports on Jan. 19, according to analyst estimates compiled by Refinitiv as of Friday.</p><p>Wells Fargo & Co, which also reports on Friday, is expected to show a 67% jump in profits.</p><p>That mixed performance will be largely due to the different pace at which banks started reversing accounting charges for pandemic-related loan losses which have not materialized. Other complicating factors are restructuring costs and asset sales at Citigroup and Wells Fargo.</p><p>Goldman Sachs Group Inc and Morgan Stanley, meanwhile, are expected to report fourth-quarter profit declines of about 7% and 2%, respectively, as revenue from fixed-income trading income dipped from exceptional levels.</p><p>Broadly speaking, however, the picture is likely to be positive and analysts anticipate that bank executives will sound an optimistic note on the outlook for core earnings.</p><p>Operating profits are expected to rise as the continued economic recovery boosted loan growth and as yields from banks' Treasury securities edged up, or at least held steady, during the quarter.</p><p>"If investors look under the hood, there is much good to be seen," Odeon Capital Group analyst Dick Bove wrote in note on Thursday.</p><p>Overall, core profits for big banks will be up about 6% on average after stripping out loan loss provisions, taxes and unusual items, Goldman Sachs analyst Richard Ramsden estimated.</p><p>More consumers and businesses returned to their banks for credit during the fourth quarter after being propped up last year by government stimulus programs, analysts said.</p><p>Core loan balances at banks increased about 4% in the fourth quarter, the fastest growth in nearly two years, according to estimates by Deutsche Bank analyst Matt O'Connor, based on Fed data through Dec. 22. That strength came from both consumer credit card and business lending, he wrote in a note.</p><p>The quarter also offered a taste of the higher net interest income that could come as Treasury yields rise in 2022, according to Gerard Cassidy of RBC Capital Markets.</p><p>The difference in average daily yields between shorter- and longer-term government securities, known as the yield curve, increased slightly during the quarter.</p><p>Betting on these positive trends, investors pushed the KBW Bank Index up 35% in 2021, easily beating the S&P 500's 27% gain.</p><p>"A late pick-up in loan growth in 4Q, coupled with a recent rise in interest rates bode well for bank (guidance) on net interest income in 1Q22 and for the full year," wrote O'Connor.</p><p>With the economic outlook uncertain due to inflation and the Omicron COVID-19 variant, however, some investors are cautious on buying more bank stocks.</p><p>Doubts are growing about the Fed's ability to maintain the economic recovery on which lending growth relies after the central bank last week released minutes from its latest policy meeting that showed officials might raise interest rates sooner than expected to slow inflation.</p><p>Jason Ware, chief investment officer for Albion Financial Group, said he is evaluating whether to buy more bank stocks but is hesitant, partly due to caution about whether higher yields are sustainable.</p><p>He's mindful, too, he added, of history suggesting that "bank stocks do better going into rate hikes than they do during rate hikes."</p><p><b>The good times will continue into 2022</b></p><p>Yet, many analysts think the good times will continue into 2022 and beyond, as several factors are putting a tailwind behind many banks.</p><p>For starters, economic activity continues to pick up in the U.S. and around the world, as total lockdowns due to the coronavirus pandemic become less and less likely.</p><p>Next, with inflation picking up significantly, the Federal Reserve Board seems likely to raise interest rates many times in 2022, which should help bank margins.</p><p>Rising interest rates benefit banks in several ways. For instance, the cost of borrowing will go up for consumers in the form of higher rates on credit cards and certain mortgages. In turn, this boosts banks’ profitability.</p><p><b>Five US banks in focus</b></p><p><b>JPMorgan Chase- Reports January 14th</b></p><p><b>Q4 Expectation: $2.965 in EPS, $29.931B in revenues</b></p><p>JPMorgan Chase & Co. last issued its earnings data on October 13th, 2021. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.74. The firm had revenue of $29.60 billion for the quarter, compared to the consensus estimate of $29.63 billion. Its quarterly revenue was down 1.0% on a year-over-year basis. JPMorgan Chase & Co. has generated $15.81 earnings per share over the last year ($15.81 diluted earnings per share) and currently has a price-to-earnings ratio of 10.5. Earnings for JPMorgan Chase & Co. are expected to decrease by -20.51% in the coming year, from $14.97 to $11.90 per share.</p><p><b>Wells Fargo - Reports January 14th</b></p><p><b>Q4 Expectation: $0.999 in EPS, $18.837B in revenues</b></p><p>Wells Fargo & Company last posted its earnings data on October 14th, 2021. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.18. The company had revenue of $18.83 billion for the quarter, compared to analyst estimates of $18.31 billion. Its quarterly revenue was down .1% compared to the same quarter last year. Wells Fargo & Company has generated $4.24 earnings per share over the last year ($4.24 diluted earnings per share) and currently has a price-to-earnings ratio of 12.6. Earnings for Wells Fargo & Company are expected to decrease by -19.18% in the coming year, from $4.64 to $3.75 per share.</p><p><b>Citigroup (C) - Reports January 14th</b></p><p><b>Q4 Expectation: $1.72 in EPS, $17.015B in revenues</b></p><p>Citigroup last announced its earnings results on October 14th, 2021. The reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.23. The business had revenue of $17.15 billion for the quarter, compared to the consensus estimate of $16.93 billion. Its revenue for the quarter was down .9% compared to the same quarter last year. Citigroup has generated $10.70 earnings per share over the last year ($10.70 diluted earnings per share) and currently has a price-to-earnings ratio of 6.1. Earnings for Citigroup are expected to decrease by -26.02% in the coming year, from $10.80 to $7.99 per share.</p><p><b>Goldman Sachs- Reports January 18th</b></p><p><b>Q4 Expectation: $11.681 in EPS, $11.989B in revenues</b></p><p>The Goldman Sachs Group last issued its quarterly earnings results on October 14th, 2021. The investment management company reported $14.93 earnings per share for the quarter, topping the consensus estimate of $9.78 by $5.15. The company had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $11.61 billion. Its revenue for the quarter was up 26.2% on a year-over-year basis. The Goldman Sachs Group has generated $60.63 earnings per share over the last year ($60.63 diluted earnings per share) and currently has a price-to-earnings ratio of 6.5. Earnings for The Goldman Sachs Group are expected to decrease by -34.18% in the coming year, from $60.65 to $39.92 per share.</p><p><b>Morgan Stanley- Reports January 19th</b></p><p><b>Q4 Expectation: $1.91 in EPS, $14.357B in revenues</b></p><p>Morgan Stanley last posted its earnings results on October 14th, 2021. The financial services provider reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.30. The firm had revenue of $14.75 billion for the quarter, compared to analysts' expectations of $13.95 billion. Its quarterly revenue was up 26.6% compared to the same quarter last year. Morgan Stanley has generated $7.83 earnings per share over the last year ($7.83 diluted earnings per share) and currently has a price-to-earnings ratio of 13.2. Earnings for Morgan Stanley are expected to decrease by -7.28% in the coming year, from $7.97 to $7.39 per share.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US Banks Q4 Earnings Preview: JPM, WFC, C, MS, and GS</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS Banks Q4 Earnings Preview: JPM, WFC, C, MS, and GS\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-01-07 13:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>While a few companies’ results have been trickling in already, Q4 earnings season kicks off in earnest starting on January 14th, when the major US banks start to report. As the repository for excess cash and the go-to place for new loans, banks serve as a bellwether for the “Main Street” economy as a whole.</p><p><b>Big U.S. banks expected to post uptick in core Q4 revenues on economic rebound</b></p><p>Analysts expect big U.S. banks to show an uptick in fourth quarter core revenues thanks to new lending and firming Treasury yields even while headline earnings will be mixed on differences in how each institution accounted for pandemic loan losses.</p><p>On Friday, JPMorgan Chase & Co and Citigroup Inc are expected to post roughly 20% and 30% declines, respectively, in profits compared with the year-earlier quarter, while Bank of America Corp's profits will be up 20% when it reports on Jan. 19, according to analyst estimates compiled by Refinitiv as of Friday.</p><p>Wells Fargo & Co, which also reports on Friday, is expected to show a 67% jump in profits.</p><p>That mixed performance will be largely due to the different pace at which banks started reversing accounting charges for pandemic-related loan losses which have not materialized. Other complicating factors are restructuring costs and asset sales at Citigroup and Wells Fargo.</p><p>Goldman Sachs Group Inc and Morgan Stanley, meanwhile, are expected to report fourth-quarter profit declines of about 7% and 2%, respectively, as revenue from fixed-income trading income dipped from exceptional levels.</p><p>Broadly speaking, however, the picture is likely to be positive and analysts anticipate that bank executives will sound an optimistic note on the outlook for core earnings.</p><p>Operating profits are expected to rise as the continued economic recovery boosted loan growth and as yields from banks' Treasury securities edged up, or at least held steady, during the quarter.</p><p>"If investors look under the hood, there is much good to be seen," Odeon Capital Group analyst Dick Bove wrote in note on Thursday.</p><p>Overall, core profits for big banks will be up about 6% on average after stripping out loan loss provisions, taxes and unusual items, Goldman Sachs analyst Richard Ramsden estimated.</p><p>More consumers and businesses returned to their banks for credit during the fourth quarter after being propped up last year by government stimulus programs, analysts said.</p><p>Core loan balances at banks increased about 4% in the fourth quarter, the fastest growth in nearly two years, according to estimates by Deutsche Bank analyst Matt O'Connor, based on Fed data through Dec. 22. That strength came from both consumer credit card and business lending, he wrote in a note.</p><p>The quarter also offered a taste of the higher net interest income that could come as Treasury yields rise in 2022, according to Gerard Cassidy of RBC Capital Markets.</p><p>The difference in average daily yields between shorter- and longer-term government securities, known as the yield curve, increased slightly during the quarter.</p><p>Betting on these positive trends, investors pushed the KBW Bank Index up 35% in 2021, easily beating the S&P 500's 27% gain.</p><p>"A late pick-up in loan growth in 4Q, coupled with a recent rise in interest rates bode well for bank (guidance) on net interest income in 1Q22 and for the full year," wrote O'Connor.</p><p>With the economic outlook uncertain due to inflation and the Omicron COVID-19 variant, however, some investors are cautious on buying more bank stocks.</p><p>Doubts are growing about the Fed's ability to maintain the economic recovery on which lending growth relies after the central bank last week released minutes from its latest policy meeting that showed officials might raise interest rates sooner than expected to slow inflation.</p><p>Jason Ware, chief investment officer for Albion Financial Group, said he is evaluating whether to buy more bank stocks but is hesitant, partly due to caution about whether higher yields are sustainable.</p><p>He's mindful, too, he added, of history suggesting that "bank stocks do better going into rate hikes than they do during rate hikes."</p><p><b>The good times will continue into 2022</b></p><p>Yet, many analysts think the good times will continue into 2022 and beyond, as several factors are putting a tailwind behind many banks.</p><p>For starters, economic activity continues to pick up in the U.S. and around the world, as total lockdowns due to the coronavirus pandemic become less and less likely.</p><p>Next, with inflation picking up significantly, the Federal Reserve Board seems likely to raise interest rates many times in 2022, which should help bank margins.</p><p>Rising interest rates benefit banks in several ways. For instance, the cost of borrowing will go up for consumers in the form of higher rates on credit cards and certain mortgages. In turn, this boosts banks’ profitability.</p><p><b>Five US banks in focus</b></p><p><b>JPMorgan Chase- Reports January 14th</b></p><p><b>Q4 Expectation: $2.965 in EPS, $29.931B in revenues</b></p><p>JPMorgan Chase & Co. last issued its earnings data on October 13th, 2021. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.74. The firm had revenue of $29.60 billion for the quarter, compared to the consensus estimate of $29.63 billion. Its quarterly revenue was down 1.0% on a year-over-year basis. JPMorgan Chase & Co. has generated $15.81 earnings per share over the last year ($15.81 diluted earnings per share) and currently has a price-to-earnings ratio of 10.5. Earnings for JPMorgan Chase & Co. are expected to decrease by -20.51% in the coming year, from $14.97 to $11.90 per share.</p><p><b>Wells Fargo - Reports January 14th</b></p><p><b>Q4 Expectation: $0.999 in EPS, $18.837B in revenues</b></p><p>Wells Fargo & Company last posted its earnings data on October 14th, 2021. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.18. The company had revenue of $18.83 billion for the quarter, compared to analyst estimates of $18.31 billion. Its quarterly revenue was down .1% compared to the same quarter last year. Wells Fargo & Company has generated $4.24 earnings per share over the last year ($4.24 diluted earnings per share) and currently has a price-to-earnings ratio of 12.6. Earnings for Wells Fargo & Company are expected to decrease by -19.18% in the coming year, from $4.64 to $3.75 per share.</p><p><b>Citigroup (C) - Reports January 14th</b></p><p><b>Q4 Expectation: $1.72 in EPS, $17.015B in revenues</b></p><p>Citigroup last announced its earnings results on October 14th, 2021. The reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.23. The business had revenue of $17.15 billion for the quarter, compared to the consensus estimate of $16.93 billion. Its revenue for the quarter was down .9% compared to the same quarter last year. Citigroup has generated $10.70 earnings per share over the last year ($10.70 diluted earnings per share) and currently has a price-to-earnings ratio of 6.1. Earnings for Citigroup are expected to decrease by -26.02% in the coming year, from $10.80 to $7.99 per share.</p><p><b>Goldman Sachs- Reports January 18th</b></p><p><b>Q4 Expectation: $11.681 in EPS, $11.989B in revenues</b></p><p>The Goldman Sachs Group last issued its quarterly earnings results on October 14th, 2021. The investment management company reported $14.93 earnings per share for the quarter, topping the consensus estimate of $9.78 by $5.15. The company had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $11.61 billion. Its revenue for the quarter was up 26.2% on a year-over-year basis. The Goldman Sachs Group has generated $60.63 earnings per share over the last year ($60.63 diluted earnings per share) and currently has a price-to-earnings ratio of 6.5. Earnings for The Goldman Sachs Group are expected to decrease by -34.18% in the coming year, from $60.65 to $39.92 per share.</p><p><b>Morgan Stanley- Reports January 19th</b></p><p><b>Q4 Expectation: $1.91 in EPS, $14.357B in revenues</b></p><p>Morgan Stanley last posted its earnings results on October 14th, 2021. The financial services provider reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.30. The firm had revenue of $14.75 billion for the quarter, compared to analysts' expectations of $13.95 billion. Its quarterly revenue was up 26.6% compared to the same quarter last year. Morgan Stanley has generated $7.83 earnings per share over the last year ($7.83 diluted earnings per share) and currently has a price-to-earnings ratio of 13.2. Earnings for Morgan Stanley are expected to decrease by -7.28% in the coming year, from $7.97 to $7.39 per share.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JPM":"摩根大通","C":"花旗","MS":"摩根士丹利","GS":"高盛","WFC":"富国银行"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109557687","content_text":"While a few companies’ results have been trickling in already, Q4 earnings season kicks off in earnest starting on January 14th, when the major US banks start to report. As the repository for excess cash and the go-to place for new loans, banks serve as a bellwether for the “Main Street” economy as a whole.Big U.S. banks expected to post uptick in core Q4 revenues on economic reboundAnalysts expect big U.S. banks to show an uptick in fourth quarter core revenues thanks to new lending and firming Treasury yields even while headline earnings will be mixed on differences in how each institution accounted for pandemic loan losses.On Friday, JPMorgan Chase & Co and Citigroup Inc are expected to post roughly 20% and 30% declines, respectively, in profits compared with the year-earlier quarter, while Bank of America Corp's profits will be up 20% when it reports on Jan. 19, according to analyst estimates compiled by Refinitiv as of Friday.Wells Fargo & Co, which also reports on Friday, is expected to show a 67% jump in profits.That mixed performance will be largely due to the different pace at which banks started reversing accounting charges for pandemic-related loan losses which have not materialized. Other complicating factors are restructuring costs and asset sales at Citigroup and Wells Fargo.Goldman Sachs Group Inc and Morgan Stanley, meanwhile, are expected to report fourth-quarter profit declines of about 7% and 2%, respectively, as revenue from fixed-income trading income dipped from exceptional levels.Broadly speaking, however, the picture is likely to be positive and analysts anticipate that bank executives will sound an optimistic note on the outlook for core earnings.Operating profits are expected to rise as the continued economic recovery boosted loan growth and as yields from banks' Treasury securities edged up, or at least held steady, during the quarter.\"If investors look under the hood, there is much good to be seen,\" Odeon Capital Group analyst Dick Bove wrote in note on Thursday.Overall, core profits for big banks will be up about 6% on average after stripping out loan loss provisions, taxes and unusual items, Goldman Sachs analyst Richard Ramsden estimated.More consumers and businesses returned to their banks for credit during the fourth quarter after being propped up last year by government stimulus programs, analysts said.Core loan balances at banks increased about 4% in the fourth quarter, the fastest growth in nearly two years, according to estimates by Deutsche Bank analyst Matt O'Connor, based on Fed data through Dec. 22. That strength came from both consumer credit card and business lending, he wrote in a note.The quarter also offered a taste of the higher net interest income that could come as Treasury yields rise in 2022, according to Gerard Cassidy of RBC Capital Markets.The difference in average daily yields between shorter- and longer-term government securities, known as the yield curve, increased slightly during the quarter.Betting on these positive trends, investors pushed the KBW Bank Index up 35% in 2021, easily beating the S&P 500's 27% gain.\"A late pick-up in loan growth in 4Q, coupled with a recent rise in interest rates bode well for bank (guidance) on net interest income in 1Q22 and for the full year,\" wrote O'Connor.With the economic outlook uncertain due to inflation and the Omicron COVID-19 variant, however, some investors are cautious on buying more bank stocks.Doubts are growing about the Fed's ability to maintain the economic recovery on which lending growth relies after the central bank last week released minutes from its latest policy meeting that showed officials might raise interest rates sooner than expected to slow inflation.Jason Ware, chief investment officer for Albion Financial Group, said he is evaluating whether to buy more bank stocks but is hesitant, partly due to caution about whether higher yields are sustainable.He's mindful, too, he added, of history suggesting that \"bank stocks do better going into rate hikes than they do during rate hikes.\"The good times will continue into 2022Yet, many analysts think the good times will continue into 2022 and beyond, as several factors are putting a tailwind behind many banks.For starters, economic activity continues to pick up in the U.S. and around the world, as total lockdowns due to the coronavirus pandemic become less and less likely.Next, with inflation picking up significantly, the Federal Reserve Board seems likely to raise interest rates many times in 2022, which should help bank margins.Rising interest rates benefit banks in several ways. For instance, the cost of borrowing will go up for consumers in the form of higher rates on credit cards and certain mortgages. In turn, this boosts banks’ profitability.Five US banks in focusJPMorgan Chase- Reports January 14thQ4 Expectation: $2.965 in EPS, $29.931B in revenuesJPMorgan Chase & Co. last issued its earnings data on October 13th, 2021. The financial services provider reported $3.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.00 by $0.74. The firm had revenue of $29.60 billion for the quarter, compared to the consensus estimate of $29.63 billion. Its quarterly revenue was down 1.0% on a year-over-year basis. JPMorgan Chase & Co. has generated $15.81 earnings per share over the last year ($15.81 diluted earnings per share) and currently has a price-to-earnings ratio of 10.5. Earnings for JPMorgan Chase & Co. are expected to decrease by -20.51% in the coming year, from $14.97 to $11.90 per share.Wells Fargo - Reports January 14thQ4 Expectation: $0.999 in EPS, $18.837B in revenuesWells Fargo & Company last posted its earnings data on October 14th, 2021. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.18. The company had revenue of $18.83 billion for the quarter, compared to analyst estimates of $18.31 billion. Its quarterly revenue was down .1% compared to the same quarter last year. Wells Fargo & Company has generated $4.24 earnings per share over the last year ($4.24 diluted earnings per share) and currently has a price-to-earnings ratio of 12.6. Earnings for Wells Fargo & Company are expected to decrease by -19.18% in the coming year, from $4.64 to $3.75 per share.Citigroup (C) - Reports January 14thQ4 Expectation: $1.72 in EPS, $17.015B in revenuesCitigroup last announced its earnings results on October 14th, 2021. The reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.23. The business had revenue of $17.15 billion for the quarter, compared to the consensus estimate of $16.93 billion. Its revenue for the quarter was down .9% compared to the same quarter last year. Citigroup has generated $10.70 earnings per share over the last year ($10.70 diluted earnings per share) and currently has a price-to-earnings ratio of 6.1. Earnings for Citigroup are expected to decrease by -26.02% in the coming year, from $10.80 to $7.99 per share.Goldman Sachs- Reports January 18thQ4 Expectation: $11.681 in EPS, $11.989B in revenuesThe Goldman Sachs Group last issued its quarterly earnings results on October 14th, 2021. The investment management company reported $14.93 earnings per share for the quarter, topping the consensus estimate of $9.78 by $5.15. The company had revenue of $13.61 billion for the quarter, compared to analysts' expectations of $11.61 billion. Its revenue for the quarter was up 26.2% on a year-over-year basis. The Goldman Sachs Group has generated $60.63 earnings per share over the last year ($60.63 diluted earnings per share) and currently has a price-to-earnings ratio of 6.5. Earnings for The Goldman Sachs Group are expected to decrease by -34.18% in the coming year, from $60.65 to $39.92 per share.Morgan Stanley- Reports January 19thQ4 Expectation: $1.91 in EPS, $14.357B in revenuesMorgan Stanley last posted its earnings results on October 14th, 2021. The financial services provider reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.30. The firm had revenue of $14.75 billion for the quarter, compared to analysts' expectations of $13.95 billion. Its quarterly revenue was up 26.6% compared to the same quarter last year. Morgan Stanley has generated $7.83 earnings per share over the last year ($7.83 diluted earnings per share) and currently has a price-to-earnings ratio of 13.2. Earnings for Morgan Stanley are expected to decrease by -7.28% in the coming year, from $7.97 to $7.39 per share.","news_type":1,"symbols_score_info":{"MS":0.9,"JPM":0.9,"GS":0.9,"C":0.9,"WFC":0.9}},"isVote":1,"tweetType":1,"viewCount":2437,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807133938,"gmtCreate":1628004560424,"gmtModify":1703499556059,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Ye","listText":"Ye","text":"Ye","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/807133938","repostId":"1136280710","repostType":4,"isVote":1,"tweetType":1,"viewCount":2095,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804941244,"gmtCreate":1627918046088,"gmtModify":1703497941732,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/804941244","repostId":"1107596279","repostType":4,"isVote":1,"tweetType":1,"viewCount":2899,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":806241171,"gmtCreate":1627660568293,"gmtModify":1703494392272,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/806241171","repostId":"1109908934","repostType":4,"isVote":1,"tweetType":1,"viewCount":3072,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801440015,"gmtCreate":1627530398837,"gmtModify":1703491794341,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/801440015","repostId":"1127264445","repostType":4,"repost":{"id":"1127264445","kind":"news","pubTimestamp":1627514621,"share":"https://ttm.financial/m/news/1127264445?lang=&edition=fundamental","pubTime":"2021-07-29 07:23","market":"us","language":"en","title":"S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1127264445","media":"Reuters","summary":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after th","content":"<p>NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> said the central bank was still a ways away from considering raising interest rates.</p>\n<p>Keeping the market in check, shares of tech giant <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc fell 1.2% after it forecast slowing revenue growth.</p>\n<p>In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.</p>\n<p>“It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz & Associates Inc, an investment advisory firm based in Toledo, Ohio.</p>\n<p>Right after the Fed statement, the S&P 500 index reversed slight declines though it still ended a hair lower on the day.</p>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.</p>\n<p>The central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.</p>\n<p>The <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> ended higher and shares of Google parent <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.</p>\n<p>The Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.</p>\n<p>The Fed’s statement came at the conclusion of its latest two-day policy meeting.</p>\n<p>“They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in <a href=\"https://laohu8.com/S/WEBK\">Wellesley</a>, Massachusetts.</p>\n<p>In other earnings news, <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.</p>\n<p>Volume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.</p>\n<p>The S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-29 07:23 GMT+8 <a href=https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","SSO":"2倍做多标普500ETF-ProShares","OEX":"标普100",".DJI":"道琼斯","UPRO":"三倍做多标普500ETF-ProShares","OEF":"标普100指数ETF-iShares","IVV":"标普500ETF-iShares",".IXIC":"NASDAQ Composite","SDS":"两倍做空标普500 ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","SPY":"标普500ETF","SH":"做空标普500-Proshares",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-ends-off-days-lows-powell-says-fed-still-a-ways-away-from-rate-hikes-idUSL1N2P435H","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127264445","content_text":"NEW YORK (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the central bank was still a ways away from considering raising interest rates.\nKeeping the market in check, shares of tech giant Apple Inc fell 1.2% after it forecast slowing revenue growth.\nIn a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks.\n“It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz & Associates Inc, an investment advisory firm based in Toledo, Ohio.\nRight after the Fed statement, the S&P 500 index reversed slight declines though it still ended a hair lower on the day.\nInvestors have been worried about how rising inflation and a spike in COVID-19 cases might impact the central bank’s plan to potentially start withdrawing its stimulus.\nThe central bank also said that higher inflation remained the result of “transitory factors.” The Fed kept its overnight benchmark interest rate near zero and left unchanged its bond-buying program.\nThe Nasdaq ended higher and shares of Google parent Alphabet Inc hit an all-time high as a surge in advertising spending helped it post record quarterly results. The stock ended up 3.2%.\nThe Dow Jones Industrial Average fell 127.59 points, or 0.36%, to 34,930.93, the S&P 500 lost 0.82 point, or 0.02%, to 4,400.64 and the Nasdaq Composite added 102.01 points, or 0.7%, to 14,762.58.\nThe Fed’s statement came at the conclusion of its latest two-day policy meeting.\n“They had a chance to signal they were going to become more hawkish and they chose not to take it. The most important thing is they are predictable and they are remaining predictable,” said Ellen Hazen, portfolio manager at F.L. Putnam Investment Management in Wellesley, Massachusetts.\nIn other earnings news, Microsoft Corp ended down 0.1% even as a boom in cloud services helped it beat Wall Street expectations for revenue and earnings.\nVolume on U.S. exchanges was 9.86 billion shares, compared with a similar average for the full session over the last 20 trading days.\nAdvancing issues outnumbered declining ones on the NYSE by a 1.85-to-1 ratio; on Nasdaq, a 2.61-to-1 ratio favored advancers.\nThe S&P 500 posted 42 new 52-week highs and no new lows; the Nasdaq Composite recorded 44 new highs and 67 new lows.","news_type":1,"symbols_score_info":{"161125":0.9,"SPXU":0.9,"IVV":0.9,".SPX":0.9,"SDS":0.9,".IXIC":0.9,"SSO":0.9,"OEX":0.9,"ESmain":0.9,".DJI":0.9,"UPRO":0.9,"SH":0.9,"SPY":0.9,"OEF":0.9}},"isVote":1,"tweetType":1,"viewCount":3466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801181706,"gmtCreate":1627487817405,"gmtModify":1703491040696,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/801181706","repostId":"2154360923","repostType":4,"isVote":1,"tweetType":1,"viewCount":2595,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803027192,"gmtCreate":1627397547516,"gmtModify":1703489214198,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/803027192","repostId":"1133981518","repostType":4,"isVote":1,"tweetType":1,"viewCount":2881,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":177891899,"gmtCreate":1627192900011,"gmtModify":1703485399658,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/177891899","repostId":"1153219140","repostType":4,"isVote":1,"tweetType":1,"viewCount":3342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175714388,"gmtCreate":1627049088044,"gmtModify":1703483320059,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/175714388","repostId":"2153983997","repostType":4,"isVote":1,"tweetType":1,"viewCount":2828,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176683890,"gmtCreate":1626879973410,"gmtModify":1703479900507,"author":{"id":"3561349612413251","authorId":"3561349612413251","name":"Emfirefamily","avatar":"https://static.tigerbbs.com/4e15c42227c1a9b62ba5b357e07169cf","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3561349612413251","authorIdStr":"3561349612413251"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/176683890","repostId":"1144363960","repostType":4,"repost":{"id":"1144363960","kind":"news","pubTimestamp":1626877711,"share":"https://ttm.financial/m/news/1144363960?lang=&edition=fundamental","pubTime":"2021-07-21 22:28","market":"us","language":"en","title":"Behind The Market's Furious Reversal: Record High Skew","url":"https://stock-news.laohu8.com/highlight/detail?id=1144363960","media":"zerohedge","summary":"At the end of June, when the S&P was making new all time highs day after day, and when the VIX was t","content":"<p>At the end of June, when the S&P was making new all time highs day after day, and when the VIX was touching fresh 2021 lows, we cautioned that the skew index just hit a new all time high - meaning that put options have been unusually expensive relative to at-the-money options, helping support the put-heavy VIX index. As we further added, high skew, which compares put option prices with at-the-money option prices, has reached new all-time high, <b>and reflected investor perception that high volatility would return should markets sell off.</b></p>\n<p><img src=\"https://static.tigerbbs.com/b30d4664cf3c973cc1a86d743bcae379\" tg-width=\"746\" tg-height=\"464\" width=\"100%\" height=\"auto\">Commenting on this unusual move, we said that it shows that while on one hand traders seem complacent, they have never been more nervous that even a modest wobble in the market could start a crash. By extension,<b>\"</b><b><u>they have also never been more protected against a full-blown market crash</u></b><b>.\"</b></p>\n<p>So fast forward to the violent, if brief, air pocket (and hardly a full-blown crash) the market experienced late last week and on Monday, which saw stocks tumble the most in months... only to soar right after. In retrospect, traders have the record high skew to thank for that because while risk reversed sharply on Tuesday and continuing today, traders were fully hedged and ready to pounce.</p>\n<p>So following up on his observations from a month ago, when he first noted the record high skew, Goldman's derivatives strategist Rocky Fishman wrote that this week’s volatility pushed equity implied and realized volatility higher, with the VIX briefly hitting 25 during the day on Monday (19-Jul)...</p>\n<p><img src=\"https://static.tigerbbs.com/44c28ca21fe15a17f5b7fa1e3236e5ad\" tg-width=\"651\" tg-height=\"375\" width=\"100%\" height=\"auto\">... even if in absolute terms vol is not high: three-week SPX realized vol (12.1%) is still below year-to-date realized vol (13.4%),and Tuesday’s rally brought the VIX back under 20. More importantly,<b>in response to record downside skew correctly implying that a sell-off would bring much higher volatility, skew has now moved even higher - at least for the S&P 500.</b></p>\n<p>Some more observations from Fishman: \"although Tuesday’s large SPX move and drop in implied vol has reduced vol risk premium, the VIX remains high relative to recent realized vol.\"</p>\n<p>Furthermore, the SPX has not had one-month realized vol as high as the current VIX level (19.7) since November - indicating that options continue to be persistently expensive,<b>which also means that traders are hedging to outsized moves both higher and lower and any selloffs are likely to be fleeting as hedges are cashed in</b>.</p>\n<p><img src=\"https://static.tigerbbs.com/002e0c79da541efcfb85fe1e04e29088\" tg-width=\"644\" tg-height=\"397\" width=\"100%\" height=\"auto\"></p>\n<p>That said, given the recent precedent for quick sell-offs to be followed quickly by low volatility, Goldman expects volatility to subside in the near term with more likelihood of a sustained increase in Q4, and a big reason for this is the persistently high index skew.</p>\n<blockquote>\n SPX index skew continues to be at near-record levels, which we see as driven by a lack of downside sellers\n <b>as much as demand for hedging.</b>The strong reaction of the VIX to Monday’s sell-off, with the VIX up over six points at one point intraday,\n <b>proved that high skew was justified - at least on a very local level....</b>on a more persistent sell-off, it would be difficult to sustain the level of implied volatility that skew would indicate.\n</blockquote>\n<p>Meanwhile, from a cross-asset standpoint, Fishman adds that if interest rates staying this low has the potential to be a catalyst for further equity upside (unless they plunge<i><b>too</b></i>fast), leaving the potential for near-term asymmetry in SPX potential returns that is the opposite of what option markets are implying.</p>\n<p>So how does one trade the persistently sticky record high skew? Goldman continues to like levered risk reversals as a way to take advantage of this dynamic: Sell a 17-Sep 3800-strike put (12.1% OTM) to fund 2x 4550-strike (5.2% OTM) calls for zero net premium. The trade would be subject to dollar-for-dollar losses shouldthe SPX close below the downside strike at expiration.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Behind The Market's Furious Reversal: Record High Skew</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBehind The Market's Furious Reversal: Record High Skew\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-21 22:28 GMT+8 <a href=https://www.zerohedge.com/markets/behind-markets-furious-reversal-record-high-skew?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>At the end of June, when the S&P was making new all time highs day after day, and when the VIX was touching fresh 2021 lows, we cautioned that the skew index just hit a new all time high - meaning ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/behind-markets-furious-reversal-record-high-skew?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/behind-markets-furious-reversal-record-high-skew?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144363960","content_text":"At the end of June, when the S&P was making new all time highs day after day, and when the VIX was touching fresh 2021 lows, we cautioned that the skew index just hit a new all time high - meaning that put options have been unusually expensive relative to at-the-money options, helping support the put-heavy VIX index. As we further added, high skew, which compares put option prices with at-the-money option prices, has reached new all-time high, and reflected investor perception that high volatility would return should markets sell off.\nCommenting on this unusual move, we said that it shows that while on one hand traders seem complacent, they have never been more nervous that even a modest wobble in the market could start a crash. By extension,\"they have also never been more protected against a full-blown market crash.\"\nSo fast forward to the violent, if brief, air pocket (and hardly a full-blown crash) the market experienced late last week and on Monday, which saw stocks tumble the most in months... only to soar right after. In retrospect, traders have the record high skew to thank for that because while risk reversed sharply on Tuesday and continuing today, traders were fully hedged and ready to pounce.\nSo following up on his observations from a month ago, when he first noted the record high skew, Goldman's derivatives strategist Rocky Fishman wrote that this week’s volatility pushed equity implied and realized volatility higher, with the VIX briefly hitting 25 during the day on Monday (19-Jul)...\n... even if in absolute terms vol is not high: three-week SPX realized vol (12.1%) is still below year-to-date realized vol (13.4%),and Tuesday’s rally brought the VIX back under 20. More importantly,in response to record downside skew correctly implying that a sell-off would bring much higher volatility, skew has now moved even higher - at least for the S&P 500.\nSome more observations from Fishman: \"although Tuesday’s large SPX move and drop in implied vol has reduced vol risk premium, the VIX remains high relative to recent realized vol.\"\nFurthermore, the SPX has not had one-month realized vol as high as the current VIX level (19.7) since November - indicating that options continue to be persistently expensive,which also means that traders are hedging to outsized moves both higher and lower and any selloffs are likely to be fleeting as hedges are cashed in.\n\nThat said, given the recent precedent for quick sell-offs to be followed quickly by low volatility, Goldman expects volatility to subside in the near term with more likelihood of a sustained increase in Q4, and a big reason for this is the persistently high index skew.\n\n SPX index skew continues to be at near-record levels, which we see as driven by a lack of downside sellers\n as much as demand for hedging.The strong reaction of the VIX to Monday’s sell-off, with the VIX up over six points at one point intraday,\n proved that high skew was justified - at least on a very local level....on a more persistent sell-off, it would be difficult to sustain the level of implied volatility that skew would indicate.\n\nMeanwhile, from a cross-asset standpoint, Fishman adds that if interest rates staying this low has the potential to be a catalyst for further equity upside (unless they plungetoofast), leaving the potential for near-term asymmetry in SPX potential returns that is the opposite of what option markets are implying.\nSo how does one trade the persistently sticky record high skew? Goldman continues to like levered risk reversals as a way to take advantage of this dynamic: Sell a 17-Sep 3800-strike put (12.1% OTM) to fund 2x 4550-strike (5.2% OTM) calls for zero net premium. The trade would be subject to dollar-for-dollar losses shouldthe SPX close below the downside strike at expiration.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":4124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}