After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Secretary of State Mike Pompeo privately tells business executives and free traders that trade war could end by 2020 election. He also noted there continues to be hurdles for...2020 Electionsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Urban Outfitters reported earnings and same-store sales for the second quarter that beat analyst expectations, while revenue fell short.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
President Donald Trump renewed calls Tuesday to readmit Russia to the G-7 ahead of the group's summit in Biarritz, France, this weekend.Politicsread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
History shows you can bank on financials to rise on Thursday.
As CNBC Pro reported Tuesday, many investors are betting financial stocks will become the bull market leaders this year after stress-test results come out Wednesday and banks are then able to raise their dividends and buy back stock.
Now, thanks to our friends at Kensho, we learn that history backs up this thesis, at least in the short term.
Since the Federal Reserve began the post-financial crisis stress tests in 2009, the S&P Financial Sector ETF has risen 1.7 percent, on average, the first trading day after the results. The group was positive 80 percent of the time.
Results of the stress tests for individual banks are due after the bell Wednesday. (The study looked at the more-important second round of the tests, which reveal just how big banks' capital return programs can be.)
Most notably, Citigroup shares fell by more than 5 percent on the day following the test last year after the company infamously failed. It was the only major bank to do so in 2014.
History shows Goldman Sachs managed just a 0.4 percent gain, on average, after the release of the results. Traders are watching the bank's results Wednesday very closely as there is concern after poor first-round data last week, which tested Goldman's success at resisting an economic downturn, that it may not be allowed to raise dividends as much as other members of the group.
The financial ETF gained 0.5 percent in Wednesday morning trading, the biggest increase among the 10 S&P 500 sector ETFs.
—CNBC's Lisa Villalobos contributed to this report.
Disclosure: CNBC's parent NBCUniversal is a minority investor in Kensho.