fell more than 2% despite the regional bank beating earnings estimates for the fourth quarter. Zions reported $1.84 in earnings per share, above the $1.65 expected by analysts, according to StreetAccount. Net interest income also beat estimates.
Noninterest income was lower than expected, however, and deposits fell 13% year over year to $71.7 billion.—Jesse PoundStocks rose on Monday, but aren't quite high enough to be considered a true market rally, according to Cameron Dawson of NewEdge Wealth.Closing Bell: OvertimeThe S&P 500 never hit the key moving level in 2022 because it was in a downtrend, Dawson said. If stocks break through this level, it may indicate that the rally has potential to move into a new bull market cycle.
Technicals and positioning can only get stocks so far, she added, before a fundamental shift is needed to really give stocks forward momentum.She cautioned that stocks upside will likely stay capped until the Federal Reserve fully pivots and stimulates the U.S. economy again.If stocks are able to rally and break the 65-day high, it would also likely lower the probability of the S&P 500 retesting its October lows, Dawson said.
Can someone please just tell Jim Cramer to not talk just for a few minutes so people can understand what's going on with the weird prints.