Hedge funds pile into banks ahead of earnings

NEW YORK, Oct 17 - Hedge funds bought U.S. stocks in all sectors last week, but mainly in financials, Bank of America said in a report on Tuesday.

Hedge funds bought over $300 million in shares in the financial sector last week, when Wall Street's biggest banks started releasing third-quarter earnings. On Friday, shares in JPMorgan Chase and Wells Fargo rose after their quarterly profits beat analysts' estimates with help from higher interest rates. Citigroup , however, lost steam and ended the day slightly down.

On Tuesday, shares of Bank of America rose after it beat estimates on interest payments and trading. Goldman Sachs also topped estimates, but shares fell.The bank added that, besides buying stocks in all 12 tracked sectors, hedge funds added mid and large caps to their portfolios, while selling small caps.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Hedge funds pile into banks ahead of earningsExplore stories from Atlantic Canada.
Fuente: SaltWire Network - 🏆 45. / 63 Leer más »

Hedge funds short food, beverage and tobacco stocks amid soaring bond yields -Goldman SachsMarket News
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

Hedge funds short food, beverage and tobacco stocks amid soaring bond yieldsMarket News
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »

US stocks slip as earnings floodgates open: Stock market news todayAll eyes are on Goldman Sachs and Bank of America earnings for insight into the impact of high interest rates.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stocks edge lower after retail sales surprise: Stock market news todayAll eyes are on Goldman Sachs and Bank of America earnings for insight into the impact of high interest rates.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

Stocks turn positive after strong retail sales data: Stock market news todayRetail sales were the latest sign of a strong economy, as a consumer slowdown remained nowhere in sight.
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »