Stocks rose sharply on Thursday after the Federal Reserve hinted at possible interest rate cuts as soon as next month.US Marketsread more
The billionaire investor believes the stock market is in a "zone of fair value" at current levels.Marketsread more
The Federal Reserve may be on its way to delivering a half-point interest rate cut next month, according to Goldman Sachs economists.Economyread more
However, Slack chief Stewart Butterfield says, "The broader world of email will stick around."CNBC Disruptor 50read more
Crude oil prices jump on news of the attack, which Iran says happened over its territory.World Politicsread more
Apple is considering moving some production from China as it is expected release of its new iPhone line this fall, The Wall Street Journal reported.Technologyread more
Workplace messaging firm Slack is about to go public in a red-hot IPO market, but it's approach to going public--using a "direct listing"--is slightly different than an IPO.Trader Talk with Bob Pisaniread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday.Bondsread more
National Securities' Art Hogan sees the U.S.-China trade war as the market's biggest risk – not Fed policy.Trading Nationread more
The Philadelphia Federal Reserve's manufacturing gauge tumbled this month, solidifying the Fed's case for easier monetary policy.Economyread more
Declining traffic to Olive Garden, Darden's top restaurant chain, resulted in weaker-than-expected revenue for its fiscal fourth quarter.Restaurantsread more
At a time when banks face pressure on a number of fronts, the Brexit situation in Europe doesn't help.
Regulatory issues as well as a low interest rate environment that looks like it could last for years to come are just two unfriendly forces against the institutions, which as a group have lost more than 11 percent year to date, as measured by the KBW Nasdaq Bank index.
Now, disruptions in Europe with the potential that Britain may leave the European Union could cause more trouble.
Just how much, though, is hard tell. Fitch Ratings believes some damage could come, but there also will be opportunity.
"A lot of the U.S. banks in Europe have consolidated their operations in the U.K., so they've gotten a lot of cost efficiencies out of that," Joo-Yung Lee, head of North American financial institutions at Fitch Ratings, told CNBC. "With the Brexit, we think there will be some restructuring changes ahead of them in terms of potentially having to pivot away from the U.K. So clearly it depends on how the trade agreements are worked out."
One area banks could benefit is from the associated volatility. The Dow industrials lost more than 800 points in a two-day period following the vote, but have been in rally mode the past three sessions.
"Volatility does help the banks, as long as it's not too much volatility that keeps investors on the sidelines," Lee said. "What were are seeing is there has been quite a bit of volume, so that is good for the banks."
At an institutional level, Citigroup has the highest dollar exposure to the U.K. at $118.9 billion, However, that's only a fraction of the bank's $1.8 trillion in assets and just 16.4 percent of its non-U.S. exposure, according to S&P Global Market Intelligence. Other financial institutions, though, face higher risks.
S&P compiled a list that provides perspective on total exposure: