US banks shares rise as they seek to regain lost grounds

PacWest Bancorp

17/07/2023 16:14

** Shares of economy-sensitive major U.S. banks rise in
early hours of trading, as lenders attempt to regain lost ground
after ending last session on a low despite painting a picture of
a resilient economy
    ** JPMorgan Chase & Co  JPM.N , Bank of America  BAC.N ,
Wells Fargo  WFC.N , Morgan Stanley  MS.N  and Citigroup  C.N 
rise between ~0.6% and ~2.4%. However, Goldman Sachs  GS.N  was
down ~0.2%
    ** Regional lenders like Citizens Financial  CFG.N , Western
Alliance Bancorp  WAL.N , Comerica  CMA.N , KeyCorp  KEY.N , PNC
Financial Services  PNC.N , Fifth Third Bancorp  FITB.O  and
Zions Bancorp  ZION.O  rise between ~0.2% and ~1.7%
    ** Big lenders ended Friday's session lower as investors
feared things were as good as they would get for a while.
Banking heavyweights including Morgan Stanley and Bank of
America will be announcing results on Tuesday 
    ** Investors are awaiting results of regional banks, which
are due this week, to gauge the health of the sector 
    ** S&P 500 Banks index  .SPXBK  rise ~0.2%, while KBW
regional banking index  .KRX  rise ~1%
    ** YTD S&P 500 Banks index down about 6.8%, while KBW
Regional Banking index is down about 20%

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))