Investors aren't holding their breaths as banks kick off the third-quarter earnings season in earnest Friday. However, analysts expect some names in the space to shine. Banks have suffered as interest rates linger at higher levels for longer, making the cost of borrowing money more expensive. A looming recession could also reduce loan demand and consumer spending as well as make it harder for borrowers to repay outstanding loans.
Outperforming other financials, measured by screening for stocks down less than the 3% the Financial Select Sector SPDR Fund has shed in the last three months. KeyCorp has the most upside potential out of the three names on the list, with analysts expecting the Cleveland-based regional bank to surge 20% in the next 12 months. The stock has struggled this year, plunging more than 40%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Asian shares rise after eased pressure on bonds pushes Wall Street higherShares are higher in Asia, tracking Wall Street gains following an easing of pressure from the bond market. U.S. futures slipped and oil prices rose slightly. Investor sentiment got a boost from a report by Bloomberg, citing unnamed sources, that the Chinese government is considering boosting spending on construction to support the slowing economy. On Tuesday, the S&P 500 rose 0.5% and the Dow added 0.4%. The Nasdaq composite climbed 0.6%. Treasury yields eased considerably after trading resumed
Source: AP - 🏆 728. / 51 Read more »
Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsBirkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day.
Source: ksatnews - 🏆 442. / 53 Read more »
Birkenstock set for its stock market debut as Wall Street trades in its wingtips for sandalsBirkenstock is making its debut on the stock market as Wall Street trades in its wingtips for sandals for a day.
Source: wjxt4 - 🏆 246. / 63 Read more »