Reported 3 days ago
US bank stocks rebounded on Friday after regional lenders reported solid earnings, calming worries about credit quality following a selloff. The S&P Regional Banks Select Industry Index rose by 1.7% after a significant drop earlier in the week due to fraud concerns affecting some banks. Companies like Truist and Regions Financial showed lower-than-expected provisions for credit losses, helping restore investor confidence. Despite ongoing global banking stock challenges, analysts believe recent selloff fears may have been overblown.
Source: YAHOO