RECENT Industry RESEARCH
The S&P 500 Financial Index fell 2.7% last week, dragging down the benchmark index.
The S&P 500 Index continued its winning streak last week and reported eight consecutive weeks of gains. The index rose 0.26% week-over-week.
The stock markets continued to reach new highs driven by gains in financial and technology stocks.
US stocks are rising due to hopes that the Trump Administration will complete a tax deal in the near future that will substantially benefit corporates.
So far, banks that reported their 3Q17 earnings showed mixed trends. JPMorgan Chase’s revenue and earnings comfortably beat consensus estimates.
Some of the largest US banks like Citigroup (C), JPMorgan Chase (JPM), and Bank of America (BAC) will report their 3Q17 earnings this week.
Last week, the Republican framework was released for the proposed tax cut. It called for lowering the corporate tax rate from 35% to 20%.
During a press conference last week, Federal Reserve Chair Janet Yellen criticized Wells Fargo (WFC) for its fake account scam.
Several large US banks and credit card companies reported a rise in credit card delinquency rates for August—the second rise after falling for four months.
According to AIR Worldwide, Hurricane Irma will likely create insured losses of $20 billion–$65 billion for the US and some Caribbean islands.
In 2Q17, the five largest US banks originated residential mortgages worth $112.0 billion, which was higher than $96.0 billion in 1Q17 but well below $129.0 billion in 2Q16.
According to Bloomberg, deregulation of US banking (XLF) could enhance gross profits for the six largest US banks by $27 billion, which would increase their annual pretax income by around 20%.
Self-storage REITs are experiencing solid growth in income and revenues in 2017. In this series, we’ll analyze the 2Q17 results for Public Storage (PSA), Extra Space Storage (EXR), and CubeSmart (CUBE).
Industrial REITs (real estate investment trusts) are currently experiencing a boom, and many investors and analysts anticipate future growth.
In 2Q17, Berkshire Hathaway (BRK.A) acquired a stake of 17.5 million shares in Synchrony Financial, the financing arm of General Electric. Berkshire Hathaway also increased its holdings in Bank of New York Mellon to 50.2 million shares.
Healthcare REITs that own senior care facilities, hospitals, and nursing homes are seeing growth. With the aging population rising, the need for critical healthcare facilities is also rising.
In this series, we’ll analyze the 2Q17 results of American Tower (AMT), SBAC Communications (SBAC), and Crown Castle International (CCI).
Residential REITs showed strong momentum in the first half of 2017 with solid improvements in both top-line and bottom-line results.
The top five US investment banks, including J.P. Morgan (JPM) and Goldman Sachs (GS), garnered total advisory and underwriting fees of $8 billion in 2Q17. This trend represented a 12% year-over-year increase.
Amid the loud cries that US malls are dying, the 2Q17 performances of US commercial REITs show the fallacy of the idea.