Big Regional Banks Reported Stable Deposits. For Investors, That Counts as Great News.
Shares of Citizens Financial, U.S. Bancorp and KeyCorp are up this week.
Shares of Citizens Financial, U.S. Bancorp and KeyCorp are up this week.
The S&P 500 broke a four-day losing streak following an upbeat jobs report and a spate of earnings.
Regional-bank shares and energy stocks led major indexes lower as shareholders digest the fallout from First Republic’s seizure and sale.
The recent failures of Silicon Valley Bank and Signature have focused attention on regional lenders’ weaknesses.
Smaller lenders like Citizens Financial and Hancock Whitney are paying more to keep depositors around.
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Major indexes rose as central banks sought to pre-empt an international dash for cash. First Republic Bank’s shares tumbled.