Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.World Politicsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Bank stocks had a good day Friday.
The SPDR S&P Bank ETF (KBE) and the SPDR S&P Regional Banking ETF (KRE) both rose around 2.5 percent, handily outperforming the broader stock market, with President Donald Trump signing executive orders aimed at rolling back financial regulations, some of which were implemented after the 2008 financial crisis. The Dow Jones industrial average saw its best day of 2017.
Shares of the three largest companies by market cap in the KBE — Wells Fargo, JPMorgan Chase and Bank of America — rose more than 2 percent. The top advancers in the KRE were shares of OFG Bancorp and East West Bancorp.
"This rally is directly related to the executive orders," said Kevin Barker, a bank analyst at Piper Jaffray, noting that interest rates were down on Friday. Higher interest rates are bullish for bank stocks. However, any further upside in bank stocks depends on how much regulation can be rolled back, he said.
"Ultimately, if there is a rollback in financial regulation, there is potential for corporate tax cuts, meaning there is potential for bank stocks to move higher," Barker said.
Banks have been among the best-performing stocks since the U.S. election, as Trump's victory raised hopes for lower corporate taxes and deregulation.
Since Nov. 8, the KBE and KRE have skyrocketed 26 percent and 27 percent, respectively, while the broader S&P 500 has risen more than 7 percent.
KBE, KRE and S&P since Nov. 8Source: FactSet
— CNBC's Gina Francolla contributed to this report.