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- Friday It's All About Jobs, Jobs, Jobs
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Reporter
No surprises in the TARP repayment, but what's next?
As expected, 10 banks are being permitted to repay their TARP money, a combined $68 billion. Oddly, they didn't name the banks, but it's JPMorgan, Goldman Sachs, Morgan Stanley, US Bancorp, American Express, Capital One, BB&T, Bank of New York, State Street and Northern Trust.
For the most parts, these stocks drifted slightly lower after the announcement.
Now comes the hard part: financials do not have any obvious catalysts in the short term.
Now that the TARP is repaid, the focus will change to earnings and credit, and while some have focused on a steepening yield curve as a positive for banks (it is), much of the data around loan deterioration does not support a "green shoots" theory.
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Questions? Comments?
- After The Bell Big Announcement: HP To Acquire 3Com
- New Highs On Lousy Volume—What's Up?
- The New Dow Target
- Wall Street Fears Dodd Bill
- Have Loan Losses Peaked for European Banks?
- Dow Industrials at New Highs—But Other Indices Lag
- Risk Trade Is Back On
- HMOs Up Despite Looming House Vote
- What The Street Thinks of The Jobless Report
- Friday It's All About Jobs, Jobs, Jobs
Data is a real-time snapshot *Data is delayed at least 15 minutes