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Big Banks Do Their Part For Q1 Earnings; Will Others Follow?

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SPDR S&P 500 ETF ETF:SPY, J P Morgan Chase & Co NYSE:JPM - Big Banks Do Their Part For Q1 Earnings; Will Others Follow?

A definite laggard in the market's recent rally that has taken the broad market to new highs for the year has been the financial sector. Although they have come off their February lows, led for the most part by the confidence instilled in sector by Jamie Dimon (who purchased $25 million of his own stock in mid-February), many are still well off their 2016 highs.

The reason for this is twofold:

  • The newly formed dovish stance taken by the Fed, has dimmed the prospect of future interest rate hikes that would benefit the sector.
  • The potential exposure to debt held by the banks from companies in the energy sector has not been alleviated despite the recent rally in...

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