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Following the bank closings, many other regional banks have had to pay higher interest rates on deposits in order to prevent customers from heading towards the exit. Comerica saw declines in both provisions and net interest income and a 28% decline in net income compared to last year. Zions Bancorp had a dramatic decline as well, seeing yearly declines in net interest income and provisions. Going forward, if demand for loans dries up, that gets rid of a key source of income for regional banks. The SPDR S&P Regional Banking ETF, a benchmark for judging the performance of shares of regional banks, was down 2.9% over five days as of midday trading on Friday.
Persons: , ” Nathan Stovall, Stovall, ” Stovall, Huntington Bancshares, , Jerome Powell, JPMorgan Chase Organizations: CNN, Signature Bank, First Republic Bank, Silicon Valley Bank, Federal, P Global Market Intelligence, US Bancorp, Financial Corp, T Bank Corp, PNC Financial Services Group, Inc, Commerce, Comerica, Zions Bancorp, Keycorp, Zions, T Bank, PNC, Regional Banking, Fed, Citi Group, Wells, JPMorgan Locations: Ohio, Dallas, Salt, Huntington, Commerce, Keycorp, Regions, Gaza, Wells Fargo
Political Cartoons View All 1211 Images“Until we get more Black women into clinical trials, we can’t change the science. Black women are 40% more likely to die from breast cancer than white women and tend to be diagnosed younger. As recruiting continues, enrolling Black women and other women of color will “absolutely” continue as a priority, Pisano said. At the U.S. study sites, 21% of study participants are Black women — that's higher than a typical cancer treatment study, in which 9% of participants are Black, McCaskill-Stevens said. Her sister recently completed treatment for triple negative breast cancer, an aggressive type that affects Black women at higher rates than white women.
Persons: , Carole Stovall, ” Stovall, , Ricki Fairley, Worta McCaskill, Stevens, McCaskill, there’s, Etta Pisano, Pisano, Cherie Kuzmiak, Stovall, Lucile Adams, Campbell, , ” Pisano Organizations: Washington , D.C, National Cancer Institute, NCI, University of North, UNC, D.C, Georgetown University, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Washington ,, Canada, South Korea, Peru, Argentina, Italy, U.S, Thailand, University of North Carolina, North Carolina, Washington
September, meanwhile, is the worst month of average for stocks, with a 0.7% average decline. Gains would be welcomed by many investors after seeing the S&P 500 Index (.SPX) fall around 16% so far this year. Still, weighing on the market has been the U.S. Federal Reserve's actions to aggressively tighten interest rates to fight inflation. The average Santa rally has boosted the S&P 500 by 1.3% since 1969, according to the Stock Trader's Almanac. The painful double-digit declines in both U.S. stocks and bonds, meanwhile, have made both asset classes more attractive for long-term investors, said Liz Ann Sonders, chief investment strategist at Charles Schwab.
CNN —Lower gas prices helped consumer confidence bounce back in August, breaking a three-month stretch of worsening sentiment. “Expectations are more sensitive to movements in gas prices,” Shepherdson said in a research note, adding that the continued slide in gas prices could be a tailwind for the survey results. However, while the consumer confidence number is promising, “this is one month,” she cautioned. Consumer confidence is a pretty fickle reading.”The big risk is that what the gas pump giveth, the gas pump taketh away, as Patrick DeHaan, head of petroleum analysis at GasBuddy, told CNN Business in an opinion column published Tuesday. “It is a real drain on disposable income [and] it ends up acting as a depressant on consumer confidence,” Stovall said.
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