Fed will disclose if banks can hike dividends/buy back shares
The major US stock indices are ending the day with solid gains/ The big banks did well today. JP Morgan is ending the day up about 2%, Citigroup is up around 1.5%, Wells Fargo up 2.2%. The Fed will announce at the bottom of the hour, if the largest US banks can raise dividends or buyback shares. The 2nd round of the stress tests will also be released. The expectations are the banks will be given more leeway to boost dividends/buyback.
Chip stocks and technology did better as well. Intel was up 1.63%, Broadcom is up 2.43%, Nvidia is up 3.53%. Facebook increased by 1.77%, Apple rose by 1.46%, Alibaba is up 1.71% and Amazon is up 1.39% despite being the subject of a tweet by President Trump (of the not endearing kind).
- The S&P is ending the day up 21.31 points or 0.88% to 2440.69. The high reached 2442.97. The low 2428.02
- The Nasdaq is ending up 87.79 points or 1.43% to 6234.41. The high reached 6238.29. the low 6144. 79
- The Dow is ending up 143.95 points or 0.68% to 21454.61. The high reached 21478.75. The low 21372.36.
