Bank Stocks Gain After Hours Following Fed Stress Test Showing All 23 Banks Were Well Positioned To Continue Lending In A Severe Recession
Portfolio Pulse from Benzinga Newsdesk
All 23 banks passed the Federal Reserve's stress test, indicating they are well-positioned to continue lending even in a severe recession. This news led to a gain in bank stocks after hours.
June 28, 2023 | 8:40 pm
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POSITIVE IMPACT
Bank of America's stock may see a positive impact as it passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that Bank of America is financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs' stock may see a positive impact as it passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that Goldman Sachs is financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The SPDR S&P Regional Banking ETF (KRE) may see a positive impact as the banks it tracks passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that the banks tracked by the SPDR S&P Regional Banking ETF are financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the ETF price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Morgan Stanley's stock may see a positive impact as it passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that Morgan Stanley is financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
PNC Financial Services' stock may see a positive impact as it passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that PNC Financial Services is financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Charles Schwab's stock may see a positive impact as it passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that Charles Schwab is financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Wells Fargo's stock may see a positive impact as it passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that Wells Fargo is financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The Financial Select Sector SPDR Fund (XLF) may see a positive impact as the banks it tracks passed the Fed's stress test, indicating financial resilience.
The positive stress test results indicate that the banks tracked by the Financial Select Sector SPDR Fund are financially stable and can withstand a severe recession, which is likely to boost investor confidence and potentially drive the ETF price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100