What is your favourite stock from the banking sector? As far as I can see, the best known stocks like $BAC or $C are trading well below their highs. Compared to $JPM, which is holding up relatively well. Which player in this sector is your favorite?
I've been getting some news from the banks popping up a lot lately. Although it's not quite my cup of tea, I've written quite a few posts on them over the past few weeks and today I'll continue again with the popular and familiar $JPM
I'm not going to write any direct news today, rather I just want to give space to discuss how you think this first busy week is going so far and JPMorgan's outlook for today's Fed meeting, which I'm sure we will all be watching closely. 😊
Great, nicely written again. I'm also interested in the results of a few companies and the Fed didn't surprise in the end and raised interest rates by 25bps. I'm really enjoying this week😁.
Last week we started with the results of the big banks, today the continuation in the form of Bank of America. $BAC
Another one of the biggest US banks and Warren Buffett's favorite bank unveiled its results and they were above expectations. The bank jumped a percentage point higher in pre-trading hours.
I recently bought shares of $BAC as the stock is at a nice price. However, I am thinking of buying more shares of $JPM, but the stock is currently too high.
What stocks from the banking sector are included in your portfolio and what bank stocks are you planning to buy?
I have $BAC and a little less in $JPM. I'm not going to buy any banks right now, I expect the Fed to keep raising rates, so for now I'm waiting to see where the market goes in the second half of the year.
Whose results will you be watching this week? For me, it's definitely JPMorgan $JPM, which I continue to hold in my portfolio. Analysts here are expecting year-over-year earnings per share growth (about 30%) and sales up about 20% from last quarter. That doesn't look bad at all, so I'm hoping it turns green on Friday.
The five largest U.S. banks said Friday they will return more cash to shareholders after passing the Fed's stress tests early last week, a show of strength that reinforces the gap between the industry giants and smaller regional rivals.
To make matters worse about the AI - Jamie Dimon (CEO and billionaire) of $JPM announced on Thursday that JPMorgan is currently already developing a ChatGPT-like AI app that will give personalized investment advice and recommendations to the bank's clients.
That's what foam looks like. I don't have a bank in my portfolio yet but I will probably consider buying a big bank eventually because after all, you can see how the big banks are doing and are still stable.
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My favorite stock from the banking sector is $BAC. $BAC is currently overbought regularly as the stock is at a great price😁.