US-China trade talks progress, Citi and JPMorgan at a glance

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<p class = "web-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "During the last five trading sessions, performance of the bank A number of factors, such as continued progress in trade negotiations between the US and China, and greater clarity on Brexit-related issues have thrilled bank investors.

Optimism was also supported by US economic data, which showed no sign of a slowdown in the near term. The financial health of banks being dependent on the economy, investors' sentiments were strengthened, leading to a rise in bank shares.

With respect to company-specific information, efforts to expand operations in new areas and to improve market share of profitable businesses continued during the last five trading days. In addition, the management's confidence in achieving the objectives set for this year is explained by the positive feelings of the market. "Data-reactid =" 11 "> In the last five sessions, the performance of the banking stocks has been optimistic – Trade negotiations with China and more clarity on Brexit issues have been a great boost for banks' investors.

Optimism was also supported by US economic data, which showed no sign of a slowdown in the near term. The financial health of banks being dependent on the economy, investors' sentiments were strengthened, leading to a rise in bank shares.

With respect to company-specific information, efforts to expand operations in new areas and to improve market share of profitable businesses continued during the last five trading days. In addition, the management's confidence in achieving the objectives set for this year is due to the positive feelings of the market.

(Read: Bank balance sheet for the week ending March 8, 2019)

Important developments of the week

1. Citigroup C expects to achieve cost containment targets by 2019. That's what company chief financial officer Mark Mason said at an investor conference. He also emphasized the importance of technology in business. Nevertheless, Mason remained pessimistic about the impact of the market on Equities and Fixed Income in the first quarter of 2019. (Read more: Citi aims to benefit from an increase in mergers and acquisitions. acquisition and low costs in 2019).

2. As part of its broader plan to expand into new markets, JPMorgan JPM plans to open 90 branches by 2019. In addition, the bank plans to hire approximately 700 employees to manage these branches. (Read more: JPMorgan will open 90 branches in 2019, hire new staff).

3. Timothy Sloan, CEO of Wells Fargo, WFC, received total compensation of nearly $ 18.4 million for 2018, up almost 5% year-over-year. According to the company's proxies, the increase is mainly due to the $ 2 million bonus paid on the basis of its achievements during the year. Despite its achievements, Wells Fargo has been the news throughout 2018, either for its involvement in a scandal, or for measures taken by the Federal Reserve to limit the growth of its assets. (To find out more: the Wells Fargo Awards CEO with salary increase gives a performance bonus)

4. In order to continue to capture the lucrative market for Exchange Traded Funds (JETs), JPMorgan announced that the JPMorgan BetaBuilders US Equity ETF would have a 0.02% fee. With this, the bank has launched the least expensive US ETF that has not yet been proposed, pushing the fee war to a lower level. (To learn more: JPMorgan will offer an ETF with the lowest fees with exposure to the US market).

Price performance

Here is how the seven main stocks behaved:

Business

Last week

6 months

JPM

2.3%

-5.8%

LAC

2.8%

-2.0%

WFC

1.1%

-6.4%

C

3.3%

-7.8%

COF

2.3%

-14.3%

USB

1.7%

-3.0%

PNC

2.3%

-6.3%

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "
In the last five sessions, Citigroup and Bank of America BAC were the biggest winners, with shares rising 3.3% and 2.8%, respectively. In addition, the shares of JPMorgan, Capital One COF and PNC Financial PNC gained 2.3% each.

Over the last six months, Capital One Financial's and Citigroup's shares have depreciated by 14.3% and 7.8%, respectively. In addition, Wells Fargo shares lost 6.4%.

And after?

Over the next five trading days, the performance of bank stocks will likely depend to a large extent on the clarity of many things that plague the US and global markets.

Is your investment advisor stumbling over your financial future?

Find out how you can better protect your retirement with a new special report, "Four warning signs, your investment advisor may be sabotaging your financial future."

Click to get it free >>"data-reactid =" 22 ">
In the last five sessions, Citigroup and Bank of America BAC were the biggest winners, with shares rising 3.3% and 2.8%, respectively. In addition, the shares of JPMorgan, Capital One COF and PNC Financial PNC gained 2.3% each.

Over the last six months, Capital One Financial's and Citigroup's shares have depreciated by 14.3% and 7.8%, respectively. In addition, Wells Fargo shares lost 6.4%.

And after?

Over the next five trading days, the performance of bank stocks will likely depend to a large extent on the clarity of many things that plague the US and global markets.

Is your investment advisor stumbling over your financial future?

Find out how you can better protect your retirement with a new special report, "Four warning signs, your investment advisor may be sabotaging your financial future."

Click to get it free >>

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