![]() The banks were able to maintain minimum capital levels, despite $541 billion in projected losses for the group.įollowing the result, shares of banking behemoth like JPMorgan Chase & Co. This implies, these banks will be able to successfully withstand a severe recession in near future without disrupting its lending activities to individuals and corporate. On Jun 28, all 23 leading banks cleared the Fed’s annual stress test. On Nasdaq, a 1.48-to-1 ratio favored advancing issues. Advancers outnumbered decliners on the NYSE by a 1.93-to-1 ratio. A total of 9.65 billion shares were traded on Thursday, lower than the last 20-session average of 11.65 billion. ![]() The fear-gauge CBOE Volatility Index (VIX) was up 0.8% to 13.54. The Materials Select Sector SPDR (XLB), the Energy Select Sector SPDR (XLE), the Financials Select Sector SPDR (XLF) and the Industrials Select Sector SPDR (XLI) advanced 1.3%, 1.2%, 1.7% and 1%, respectively. Eight out of 11 broad sectors of the benchmark ended in positive territory while 3 finished in negative zone. The tech-heavy Nasdaq Composite finished at 13,591.33, dropping 0.4% due to weak performance of large-cap technology stocks. Notably, 22 components of the 30-stock index ended in positive territory, while eight in negative zone. The Dow Jones Industrial Average (DJI) climbed 0.8% or 269.76 points to close at 34,122.42. ![]() The Dow rallied the S&P 500 gained modestly while the Nasdaq Composite ended in red. Moreover, a series of strong economic data also boosted market participants’ confidence on risky assets like equities. stock markets closed mostly higher on Thursday after major banks cleared the Fed’s annual stress test.
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