Reported 2 days ago
Bank stocks showed signs of stabilization after regional banks reported earnings that eased credit fears, following a significant decline the previous day. The KBW Nasdaq Regional Banking Index rose 1.7% on Friday, recovering from a sharp 6% drop. CEOs from various banks, including Truist Financial and Fifth Third Bancorp, indicated that overall credit quality remains strong, despite fears triggered by previous loan disclosures linked to fraud allegations. Analysts generally expressed optimism about the health of the banking sector, although concerns about isolated bankruptcies linger.
Source: YAHOO