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Market Insider with Patti Domm

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  Monday, 20 May 2013 | 1:25 PM ET

Three Reasons to Buy Bank Stocks

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Blackred | E+ | Getty Images

Financials are one of the best performing sectors in the S&P 500 this year, and some Wall Street strategists say the banks will continue to outperform, given improving loan fundamentals, attractive valuations and rising dividends.

So far this year, financials have gained 21 percent, which is the second best performing sector. Last week, the financials climbed the most of any sectors, rising 3.7 percent, and they were one of the best performing sectors Monday, making gains while most sectors declined.

Jonathan Golub of UBS, in a recent research note, argued that this sector will continue to outperform. For one, the sector boasts improving loan fundamentals including rising volumes and a steeper yield curve. Secondly, the sector is attractively valued: financials trade at 1.24 times book value, which is a discount to their historical average of 1.86.

»Read more
  Monday, 20 May 2013 | 1:08 PM ET

Midday Movers: CAT, RHT, JASO & More

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Take a look at some of Monday's midday movers:

Caterpillar shares were up even after the manufacturer of construction equipment said global sales were down 9 percent in April. Meanwhile, Caterpillar said weakness in its North American and Asia/Pacific markets were offset in part by strength in Latin America.

Red Hat was down after a downgrade to "market perform" from "outperform" at BMO Capital, with the price target at $54 per share.

»Read more
  Monday, 20 May 2013 | 10:18 AM ET

Silver Ends Higher After Wild Ride

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Minshi Ahmed | Bloomberg | Getty Images
Gregor Gregersen, director of Silver Bullion Pte., arranges a stack of silver bullion bars.

Silver staged a dramatic comeback Monday, after a day of volatile trading sent the metal to a 2-1/2 year low before bouncing back late in the session.

Silver's steep slide started late Sunday, following the longest losing streak in the gold market since the 2008 financial crisis. The metal slumped for the same reason that gold has lost its luster, including a stronger dollar and low inflation, traders and analysts say.

Traders say short-covering and bargain hunting, helped by Monday's weaker dollar, were factors turning steep losses in the metals into gains at around midday. Gold also turned around, snapping a 7-session losing streak.

»Read more
  Monday, 20 May 2013 | 9:45 AM ET

Market Wonders If Bernanke Will Snatch Punch Bowl

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Federal Reserve Board Chairman Ben Bernanke

The big event this week is Wednesday, when U.S. Federal Reserve Chair Ben Bernanke testifies in front of the Joint Economic Committee, while the Fed releases the FOMC minutes to the April 30 and May 1 meeting.

The markets were all aflutter last week as John Williams from the San Francisco Fed (a dove) indicated he wanted to taper off purchases sooner rather than later.

But Bernanke is likely to reiterate exactly what he said at the May 1 meeting: that they are "prepared to increase or reduce" their bond purchases as the labor markets or inflation outlook changes.

(Read more: Bulls Will Be Driving Market, but Bernanke Is Steering)

»Read more
  Monday, 20 May 2013 | 8:00 AM ET

Early Movers: YHOO, CPB, BA, GE & More

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Check out which companies are making headlines before the bell on Monday:

Campbell Soup — The food maker reported fiscal third quarter profit of 62 cents per share, excluding certain items, six cents above estimates, with revenues also beating consensus. It also raised its full year forecast. Campbell CEO Denise Morrison said the company was generally pleased with the quarter, though she expressed disappointment with the performance of certain units such as beverages.

Yahoo — Sources tell CNBC the company's board has approved a deal to buy blogging service Tumblr for $1.1 billion. Yahoo would not immediately confirm the deal, saying it does not comment on rumors or speculation, but does have a media event scheduled for later today.


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  Friday, 17 May 2013 | 9:08 PM ET

Bulls Drive Market, but Ben Is Steering

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Federal Reserve Board Chairman Ben Bernanke listens during a meeting of the Financial Stability Oversight Council at the Treasury Department in Washington, DC.

Bullish momentum should drive stocks higher in the week ahead as markets watch to see if Federal Reserve Chairman Ben Bernanke weighs in on whether the economy is strong enough to justify paring back on Fed bond buying any time soon.

The debate about whether and when the Fed should start trimming back on its bond-buying program was underway in markets this past week, and was further fueled by the comments of Fed hawks. It also has made the Fed chairman's economic testimony before the Congressional Joint Economic Committee Wednesday even more important.

"He's got to be a bit of a two-handed economist," said Pimco strategist Tony Crescenzi. "On the one hand, he shows the Fed is concerned about downside risk to growth, and in so doing keeps markets believing the Fed will remain accommodative for a long time, but on the other hand, he has to seem somewhat optimistic about the future because the decision point is getting closer to a taper. Given the rising asset prices and improving employment…he'll say there's been progress."

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  Friday, 17 May 2013 | 11:27 AM ET

Midday Movers: DATA, V, ARUN & More

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Take a look at some of Friday's midday movers:

Tableau Software soared after its IPO. The data software company sold 8.2 million shares at $31 per share raising $254 million.

Visa hit a historic high after a Nomura analyst said the global payments firm justified a P/E multiple of 25-times earnings and raised his price target on the firm to $220 from $187 per share.

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  Friday, 17 May 2013 | 7:57 AM ET

Early Movers: DELL, JCP, DIS & More

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Check out which companies are making headlines before the bell on Friday.

Applied Materials: The semiconductor manufacturing equipment maker reported fiscal second-quarter profit excluding items of 16 cents per share, beating estimates by three cents. Revenue was also above consensus, with demand for smartphone chips helping offset a decline in personal computer sales.

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  Thursday, 16 May 2013 | 7:33 PM ET

US Bull Market Begins to Show Signs of Wear

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Stocks head into Friday with a 1 percent gain for the week so far, but traders are increasingly seeing signs of wear, particularly as a growing list of disappointing economic reports stacks up against the market's gains.

Friday's data includes consumer sentiment at 9:55 a.m. ET, and leading indicators at 10 a.m.

(Watch Now: What Happens When Fed 'Tapers' Down)

Those reports follow on Thursday's Philadelphia Fed survey, weekly jobless claims, and housing starts, all disappointing in some way. Industrial production Wednesday and the Empire state survey were also weaker than expected. The Philadelphia Fed index fell from a positive 1.3 to a contraction of 5.2 in May. Weekly jobless claims increased by a surprising 32,000 to 360,000, and housing starts fell 16.5 percent to 853,000, but permits rose.

»Read more
  Thursday, 16 May 2013 | 5:08 PM ET

After-Hours Buzz: Dell, JCPenney, Autodesk & More

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Check out which companies are making headlines after the bell Thursday:

Dell - The computer hardware and software company posted earnings of 21 cents a share, excluding one-time items, on sales of $14.07 billion, against expectations for 35 cents a share on sales of $13.50 billion. Shares were largely unchanged in extended-hours trading.

(Read More: Stocks End Lower on Fed's Comments; CSCO Up 13%)

JCPenney - The retailer posted a loss of $1.31 a share, excluding one-time items, on revenue of $2.64 billion, missing expectations for a loss of 89 cents a share on sales of $2.74 billion. And the company said first-quarter same-store sales fell 16.6 percent, as previously reported. Shares toggled in and out of positive territory in extended-hours trading.

»Read more

About Market Insider

Be prepared with Market Insider. Your daily guide to events and trends that drive the financial markets. Whether it’s stocks, foreign exchange, commodities, or bonds, you'll get a distinctive look at the discussion shaping investment decisions as well a wide range of opinion.

  • Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • Greenberg is senior stocks commentator for CNBC appearing throughout business day programming and on CNBC.com.

  • A CNBC reporter since 1990, Pisani reports on Wall Street and the stock market from the floor of the New York Stock Exchange. Follow him on Twitter @BobPisani.

  • Epperson covers the global energy, metals and commodities markets from the NY Mercantile Exchange for CNBC and CNBC.com.

  • Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Editor at CNBC, commodity trader in a former life.

  • CNBC Markets Producer

  • Senior Producer at CNBC's Breaking News Desk.

  • Website Producer at CNBC