Bank stocks show more signs of life after a tumultuous year. Here's what's causing the run and why we're optimistic on these financial names

  • 📰 NBCDFW
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 63%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Club names Morgan Stanley (MS) and Wells Fargo (WFC), in particular, have perked up recently.

, too, with Swiss bank UBS taking over its ailing rival Credit Suisse. Big banks, like Morgan Stanley and Wells Fargo, were never in any trouble but were painted with a broad brush of industry distrust.

Still, Wells Fargo and Morgan Stanley are both well capitalized and haven't been at risk of a run on deposits, according to the Fed's. These new rules shouldn't hit their bottom lines either, but there's an argument to be made that an increase in capital requirements may weigh on revenue streams from net interest income as lending conditions tighten.

During last week's Barclays Financial Conference, management at Morgan Stanley said that capital markets are set to improve next year, with 2024 likely being a much better year for the economy as well. This could boost investment banking more broadly because companies will feel less inclined to preserve capital and more confident in going public or making acquisitions.

Wells Fargo doesn't stand to benefit quite as much as Morgan Stanley on a pickup in investment banking. However, management's remarks at last week's Barclays conference are showing signs of continued recovery. Wells Fargo Chief Financial Officer Michael Santomassimo said the macroeconomic picture is"much better than people would have expected at this point."

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 288. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bank of America names 2 European chip stocks as its 'top picks' into year-endThe Wall Street bank's 'top autos semis pick' is expected to rise by more than 60% over the next 12 months.
La source: CNBC - 🏆 12. / 72 Lire la suite »

This nutritional snack company has a leg up on competitors, Morgan Stanley says in upgradeA diverse product offering could provide this company an edge over market competitors, according to Morgan Stanley.
La source: CNBC - 🏆 12. / 72 Lire la suite »