News Formal

Banking turmoil not over as only 8 stocks fueled S&P 500 gain: Bianco

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Malaysia News News

The S&P 500's gains this year are thanks to just 8 stocks, signaling the banking turmoil isn't over yet, Jim Bianco says

The S&P 500's year-to-date gains have been driven by just eight stocks, while the other 492 stocks in the benchmark index have fallen as a group in 2023, signaling the banking turmoil isn't over yet, Jim Bianco said.

However, Bianco suggested the index's gains aren't cause for celebration as only eight stocks are behind its progress. These include FAANG stocks – an acronym for five mega-cap US tech companies: Facebook, Amazon, Apple, Netflix, and Google.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 729. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market news: S&P 500 hits 3-week high as bank fears easeUS stocks jump as traders put bank crisis behind them and brace for more inflation data It's encouraging to see the progress already made in putting the bank crisis behind us, and exciting to anticipate more inflation data!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Tech stocks retake the leadYear-to-date gains for tech giants like Apple, Microsoft and Alphabet, are bigger, with the shares rising 24%, 17% and 15%, respectively.
Source: axios - 🏆 302. / 63 Read more »