JPMorgan and other financials eye record high closes

Hartford Insurance group

05/01/2024 19:10

** Several banks and insurance cos are near record high closes
on Fri as financials outperform on Wall Street 
    ** Allstate Corp  ALL.N , Loews Corp  L.N  and JPMorgan
Chase & Co  JPM.N  all trading in line with or above their
record high closes
    ** While those stocks were near or above their previous
record high closes, their gains were muted, up between 0.3% and
0.9% for the session
    ** American International Group Inc  AIG.N  is up 0.8%, at
highest since imploding in the 2008 financial crisis. Hartford
Financial Services Group Inc  HIG.N  up almost 1% at highest
since 2008
    ** The S&P 500 financials sector index  .SPSY  was up 0.5%,
head of most other sector indexes. SPSY remains down ~9% from
its record high close in January 2022
    ** SPSY has climbed ~5% over the last 30 days, compared to a
~3% rise in the S&P 500  .SPX . The SPSY's recent outperformance
reflects a broadening of Wall Street's recovery beyond megacap
stocks that drove most of last year's gains
        ** The S&P 500 banks index  .SPXBK  was last up 1.5% on
track for its highest closing level since February 2023
  

 (Reporting by Noel Randewich)
 ((noel.randewich@tr.com;))