Bank stocks rose sharply on Thursday after the Federal Reserve cleared capital returns programs for the big banks.
Gerard Cassidy banking analyst at RBC Capital Markets says the banking system has not been this healthy in decades.
KEEPING SCORE: The Standard& Poor's 500 index fell 7 points, or 0.3 percent, to 2,433 as of 10:11 a.m. Eastern time. The Dow Jones industrial average slid 23 points, or 0.1 percent, to 21,431. The Nasdaq composite lost 55 points, or 0.9 percent, to 6,178. The Russell 2000 index of small-company stocks gave up 1 point, or 0.1 percent, to 1,423. The stock market was coming...
Several big banks announced significant increases in their plans to return capital to shareholders.
The next at least three years are going to be a period of catch up on bank payouts, said Tom Brown. Bill Smead called the news "very exciting."
The financial giant said it has authorized share buybacks of up to $19.4 billion between July 1 and June 30 next year.
The Federal Reserve did not object to any of the capital plans of 34 banks it reviewed in an annual test implemented in the wake of the financial crisis.
These are the stocks posting the largest moves after the bell.
Those allowed to raise dividends or repurchase shares include the four biggest U.S. banks— JPMorgan Chase, Bank of America, Citigroup and Wells Fargo. Capital One's plan only got conditional approval and it has six months to revise it. They included a doubling of Citigroup's dividend, a 60 percent dividend increase by Bank of America and a 12 percent hike for...
The Fed's CCAR test results could mark a turning point for the financial stocks, which have lagged all year.
JPMorgan Chase says it has partnered with General Electric's energy startup, Current, to reduce its environmental impact.
Raw video captures the meeting on Monday between JP Morgan CEO Jamie Dimon and former Uber CEO Travis Kalanick in Washington, D.C.
The two were seen in Washington.
CNBC's Seema Mody reports on JP Morgan CEO Jamie Dimon and former Uber CEO Travis Kalanick meeting in Washington, DC, on Monday
The deal bolsters Oracle's cloud credibility in the financial sector.
India’s Modi met Sunday with corporate America's top leaders, in a CEO roundtable that contrasted sharply with one Trump recently held.
Some of the names on the move ahead of the open.
WASHINGTON— All of the 34 largest U.S. banks are fortified enough to withstand a severe U.S. and global recession and continue lending, the Federal Reserve said Thursday. The banks undergoing the seventh annual check-up included JPMorgan Chase& Co., Bank of America Corp., Citigroup Inc. and Wells Fargo and Co.— the four biggest U.S. banks by assets.
Banks made it through the latest round of stress testing relatively unscathed, setting investors up for news of payouts.
Trump goes his own way when his cohort of CEO's disagree with him on an issue, writes Breakingviews' Gina Chon.