U.S. financial stocks overcome weakness in the banking sector to close modestly higher, as cautious notes from J.P. Morgan and Citigroup analysts analysts dampen enthusiasm for banking stocks.
Citi Investment Research analysts said Tuesday that significant risks remain in bank stocks and advised investors to be selective in picking which shares to own.
A slew of analyst comments on banking stocks lift the industry in early trading, lending support to the broader financial sector and the rest of the market.
Citigroup said there are substantial risks facing U.S. bank stocks now, but in the near term these stocks can grind higher given a combination of the Federal Reserve's accommodative stance plus a modest recovery.
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