News Formal

Hedge funds pile into banks ahead of earnings

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 78%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Market News

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.

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:

 /  🏆 13. in NG
 

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

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Hedge funds pile into banks ahead of earningsExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

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

Hedge funds short food, beverage and tobacco stocks amid soaring bond yieldsMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

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.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »