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☆ Here are Monday's biggest analyst calls: Apple, Amazon, Cinemark, Nvidia, Meta, Berkshire Hathaway & more
▼ + stars: | 2023-08-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating after Apple's quarterly 10-Q report. Morgan Stanley upgrades Laureate to overweight from equal weight Morgan Stanley said the education company is a beneficiary of nearshoring. Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said the company has a "differentiated" and "disruptive" platform. " UBS reiterates Berkshire Hathaway as buy UBS said it's standing by its buy rating on shares of Berkshire after its earnings report Saturday. Morgan Stanley reiterates Cinemark as overweight Morgan Stanley said it's standing by its overweight rating on Cinemark as the success of "Barbie" and "Oppenheimer" has "squashed" the theatrical bear case.

Persons: Morgan Stanley, Apple, DA Davidson, Andy Jassy, Wells, Holley, it's, Raymond James, Charles Schwab, Schwab, EchoStar, Guggenheim, Berkshire Hathaway, Cinemark, Oppenheimer, Truist, Piper Sandler, Piper, MNST, Wright Organizations: UBS, Meta, Facebook, Bank of America, Nvidia, U.S ., Networks, Alto Networks, United Airlines, Berkshire, Comcast, CNBC, Monster Beverage Locations: WhatsApp, nearshoring, United, Berkshire, NBCUniversal

There are multiple types of index funds, including:Broad market index funds: Index funds that try to track the overall performance of an entire asset class throughout the entire stock market. Fixed-income and debt index funds: Index funds that track bond indices for low expense ratios. International index funds: Index fund that invests funds in assets outside of the US. Sector-based index funds: Index funds that invest funds in a specific sector of the market, such as technology or even certain company services. Socially responsible index funds: Similar to sector-based index funds, socially responsible index funds invest specifically in companies that focus on environmental, social, and governance (ESG) services.

Persons: Warren Buffett, It's, Julian Schubach, Louis, Ameritrade, Charles Schwab, you've, Schwab Organizations: Service, Independence, US, Rutgers, Nasdaq, Nasdaq Stock Market Dow, NYSE, New York Stock Exchange, U.S, Federal Reserve Bank of St, Market, Fidelity, Vanguard, Chevron Locations: Wall, Silicon, Chevron

Here are four important steps to take to determine just how much money you'll need to save:1. Calculate how much you'll need to save during retirementUnderstanding what you expect retirement to look like will help determine how much you'll need in order to fund that lifestyle. In retirement, your savings will cover many of the same expenses that you had prior to retirement. This rule states that retirees can withdraw up to 4% of their retirement savings in year one of retirement. So, if you have $2,000,000 in retirement savings, you would withdraw $80,000 that first year.

Persons: you'll, it'll, Jim Ludwick, They're, Roth, Ludwick, Tolen Teigen, Everyone's, Charles Schwab Organizations: Service, Gallup, Utilities Insurance, Inc, Fidelity, Social Security, IRA, Roth IRA, Consulting, Security Locations: Wall, Silicon, Chevron

[1/3] Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely watched employment report on Friday, slightly below expectations of 200,000 jobs. U.S. Treasury yields dropped after jobs data on Friday showed the U.S. economy added fewer jobs than expected in July, but investors hesitated to rule out further monetary tightening. Oil prices headed for a sixth straight weekly gain, driven by the prospect of reduced supply from Saudi Arabia and Russia. U.S. crude rose 1.4% to $82.69 per barrel and Brent was at $86.10, up 1.13% on the day.

Persons: Mike Segar, Rick Rieder, Randy Frederick, Charles Schwab, Frederick, Sterling, Fitch, Brent, Lawrence Delevingne, Amanda Cooper, Elizabeth Howcroft, Ankur Banerjee, Sruthi Shankar, Sharon Singleton, Nick Macfie, Diane Craft Organizations: Wall, New York Stock Exchange, REUTERS, Apple, Treasury, U.S ., Labor Department, Dow Jones, Nasdaq, FTSE, U.S . Federal, Bank of England, U.S . Treasury, Thomson Locations: Manhattan, New York City , New York, U.S, Austin , Texas, United States, Saudi Arabia, Russia, Boston, London

☆ The Federal Reserve is likely to keep rates high. Here's a strategy to generate income and reduce risk
▼ + stars: | 2023-08-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +2 min

Near-dated Treasurys have seen a sizeable boost since the Federal Reserve has embarked on its rate-hiking campaign, and a strategy that allows investors to generate income in the short term is taking off. To that effect, the firm this week launched a trio of Treasury bond laddering strategies: six-month, 12-month and 24-month offerings, managed by its Wasmer Schroeder Strategies team. "There are two bond investors: total return and income," Lafferty said. "For income investors, those higher yields are still at the shorter end, and these might be people who are pulling income out of their portfolio or retirees who need to spend their current income," he added. For investors who are thinking longer term, Schwab offers 5-year to 15-year ladders, as well as a 1-year to 5-year variety.

Persons: Bond, Charles Schwab, Warren Buffett, US3M, David Lafferty, Schroeder, Lafferty, Schwab Organizations: Federal Reserve, Schwab Asset Management, Treasury

Americans say they need $1.8 million in savings to retire, according to a new Charles Schwab survey. But only 37% of workers think they're very likely to achieve their target, down 10% from last year. They listed inflation and stock market volatility as the biggest obstacles to saving for retirement. Americans say they need $1.8 million in savings to be able to retire, according to a new survey from Charles Schwab. He added that though many workers are trying to cut back on spending, "retirement saving continues to be a priority for workers."

Persons: Charles Schwab, Brian Bender Organizations: Schwab Workplace Financial Services

☆ Oakmark Funds' Bill Nygren is one of the top value managers with double-digit returns — for decades
▼ + stars: | 2023-08-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Bill Nygren at Oakmark Funds is one of the top value-focused fund managers on Wall Street today with a long-term track record of success. The University of Wisconsin and University of Minnesota grad has managed the Oakmark Select Fund since 1996 and the Oakmark Fund since 2000. The $18 billion Oakmark Fund touts a similar track record, returning an annualized 12.2% over the last 15 years and 12.7% since 1991. The Oakmark Fund's five largest positions account for only 15% of assets, and its largest, Google-parent Alphabet , takes up less than 4%. Nygren holds just 50-60 positions in the Oakmark Fund, so that each of his high-conviction bets has a greater impact on the fund's performance.

Persons: Bill Nygren, Morningstar, It's, Nygren, Charles Schwab Organizations: University of Wisconsin, University of Minnesota, Oakmark Fund, Google, Oakmark, Capital, Bank of America Locations: Charlotte, Wells Fargo

☆ I Moved My Savings to a High-Yield Account, Now My Savings Rate Is Up 700%
▼ + stars: | 2023-07-31 | by ( Aly J. Yale | ) www.wsj.com time to read: +3 min

Meanwhile, my Charles Schwab Investor Savings account, which I intentionally opened to earn a higher rate on my long-term savings a few years ago, was paying just 0.48%. So I spent the early weeks of January shopping around, focusing on high-yield savings accounts I’d heard about from colleagues and in my reporting. (Check out these tips for choosing the best high-yield savings account for you.) I’d gotten comfortable with my old savings accounts, and it was costing me—a lot. So take this as your sign: If you haven’t checked your savings account rates lately it’s time to do so, particularly if you’ve had your account longer than a year or two.

Persons: Aly J, I’ve, Charles Schwab, wasn’t, Marcus —, Goldman Sachs —, I’d, you’ve Organizations: Yale, Charles Schwab Investor Savings, Federal Deposit Insurance Corp, Westside Theatre Locations: New York City, Canada, Toronto, Niagara Falls, Montreal

☆ Why is the US dollar losing its shine?
▼ + stars: | 2023-07-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —The US dollar’s decline has gained speed this month as investors pare back their interest rate expectations. Last week, that helped lead the US Dollar Index, which tracks the dollar versus the British pound, euro, Swiss franc, Japanese yen, Canadian dollar and Swedish krona, to its lowest level in more than a year. The dollar’s decline could offer some support to tech earnings, further boosting those stocks and in turn the broader rally. Gold prices have risen over 6% this year, supported by sliding Treasury yields and a decline in the dollar. The Dow slips to snap 13-day rallyThe Dow Jones Industrial Average index fell Thursday, cutting short a historic 13-day streak of gains.

Persons: pare, ”, Kathy Jones, Charles Schwab, Jones, Seema Shah, “ It’s, Shah, Gold, Dow, Read, Barbie ”, “ Oppenheimer, Matt Egan, “ Barbie, “ Oppenheimer ” Organizations: CNN Business, Bell, CNN, Federal, Swiss, Canadian, Fed, Microsoft, Apple, Asset Management, Japan, European Central Bank, Dow Jones, Nasdaq, Bank of America, Warner Bros Locations: Swedish

☆ Ron Baron has a rare long-term record of beating the market. Here's how he did it
▼ + stars: | 2023-07-26 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Ron Baron is one rare active manager that has been outperforming the market since the 1980s, thanks to his eye for long-term growth. The 80-year-old investor founded Baron Capital in 1982, and 16 of his 19 mutual funds representing 98.8% of the firm's asset under management have beaten their benchmark since their inception dates. Similarly, Baron Capital considers stocks as representing part ownership of publicly traded businesses. The Baron Capital chairman and CEO has been known as a longtime bull in Tesla , a stock with a 46% weighting in the Partners fund. Baron Capital managed about $40 billion at the end of 2022.

Persons: Ron Baron, Morningstar, Baron, Warren Buffett's, Tesla, Charles Schwab Organizations: Baron Capital, Baron Partners Fund, Partners, SpaceX, Iridium Communications, Arch Capital Group, FactSet Research, Hyatt Hotels Locations: Tesla

☆ Kleintop: The concentration of leadership in mega-cap stocks makes the U.S. markets vulnerable
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKleintop: The concentration of leadership in mega-cap stocks makes the U.S. markets vulnerableJeffrey Kleintop, Chief Global Investment Strategist at Charles Schwab, discusses earnings season, the Fed, and the global markets.

Persons: Jeffrey Kleintop, Charles Schwab Organizations: Global Investment

☆ Here's what to expect from the Federal Reserve meeting Wednesday
▼ + stars: | 2023-07-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON, DC - JUNE 21: Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services June 21, 2023 in Washington, D.C. Powell testified on the Federal Reserve’s Semi-Annual Monetary Policy Report during the hearing. Win Mcnamee | Getty Images News | Getty ImagesDespite an improving inflation picture, the Federal Reserve is expected on Wednesday to approve what would be the 11th interest rate increase since March 2022. That would push the upper boundary of the federal funds rate to its highest level since January 2001. But apparently the folks at the Fed think they need one more at least." Likewise, Steven Blitz, chief U.S. economist at Globaldata.TSLombard, said a "dovish hike and talk of soft landings" at Wednesday's meeting would be a mistake for the Fed.

Persons: Jerome Powell, Powell, Win Mcnamee, they've, Kathy Jones, Charles Schwab, Jones, —, haven't, Luke Tilley, that'll, " Tilley, I'm, Andrew Hollenhorst, Steven Blitz Organizations: Federal, Financial, Getty, Federal Reserve, Investors, Open Market, Dow Jones, Investment Advisors, Citigroup Locations: WASHINGTON, DC, Washington ,, Central, —, Wilmington, U.S

☆ Wall St Week Ahead Relentless U.S. stock rally faces Fed test
▼ + stars: | 2023-07-21 | by ( David Randall | ) www.reuters.com time to read: +4 min

The S&P 500 is up nearly 19% year-to-date and closed on Thursday at 4,534.87, only about 6% below an all-time high reached in January 2022. What the Fed does and says next week will be critical," said Cliff Corso, chief investment officer at Advisors Asset Management. "Bearish investors have had to capitulate," said Liz Ann Sonders, chief investment strategist at Charles Schwab. The bank last month raised its year-end S&P 500 target to 4,500, from 4,000. However, Christopher Tsai, chief investment officer at Tsai Capital, is not worried about buying into an overvalued market.

Persons: Cliff Corso, Jonathan Golub, Tom Lee, Ed Yardeni, Liz Ann Sonders, Charles Schwab, Eric Freedman, Goldman Sachs, Sunitha Thomas, We've, Christopher Tsai, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Richard Chang Organizations: YORK, Federal Reserve, Fed, Asset Management, Jonathan Golub of Credit Suisse, Fundstrat Global, Yardeni Research, National Association of Active Investment, U.S, Bank Wealth Management, Consumers, Northern Trust, Tsai, MSCI Inc, Zoetis Inc, Thomson Locations: U.S, Jonathan Golub of

☆ Charles Schwab Survived the Deposit Crisis. What Comes Next?
▼ + stars: | 2023-07-20 | by ( Justin Baer | ) www.wsj.com time to read: 1 min

Charles Schwab is best known as the largest publicly traded U.S. brokerage firm, but it also runs a large bank that isn’t quite too big to fail. Investors are behaving as if a bit of good news about that bank means this year’s regional-banking crisis might be winding down.

Persons: Charles Schwab

When you use your debit card abroad, you'll probably have to pay a foreign transaction fee. But know that you will pay foreign transaction fees on non-360 accounts. RobinhoodThe Robinhood Cash Management Account doesn't charge foreign transaction fees or out-of-network ATM fees. Debit card foreign transaction fees at other banksForeign transaction fee FAQsWhat is a normal foreign transaction fee? Betterment, Capital One 360, Charles Schwab, Chime, Discover, Robinhood, and Varo do not charge foreign transaction fees.

Persons: you'll, Charles Schwab, Robinhood, Chase Organizations: Visa, Mastercard, Banking, The Bancorp Bank, Stride Bank, N.A, FDIC, Visa . Capital, Schwab, Chase Sapphire ℠ Banking, HSBC

☆ Final Trades: Charles Schwab, Biogen & more
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Charles Schwab, Biogen & moreThe "Halftime Report" traders give their top picks to watch for the second half.

Persons: Charles Schwab Organizations: Biogen

☆ Coinbase is a crypto conundrum, squared
▼ + stars: | 2023-07-20 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +7 min

Shares in Coinbase got a major boost after money management behemoth BlackRock (BLK.N) applied to launch a bitcoin-backed exchange-traded fund this month with Coinbase as its custodian. Coinbase shares are up nearly 54% in July, handily beating the tech-heavy Nasdaq Composite Index (.IXIC), which rose 4%. Price targets range widely: analysts polled by Refinitiv think Coinbase is worth anywhere from $8 billion to nearly $50 billion. Coinbase investors would therefore be unwise to count on a judge delivering Coinbase a win. Given bitcoin’s current $584 billion market capitalization, that suggests $74 billion of ETFs would not be much of a stretch.

Persons: Brian Armstrong, Coinbase, behemoth BlackRock, –, Gary Gensler, there’s, Goldman Sachs, Cowen, Refinitiv, Armstrong, Sam Bankman, Larry Fink, Charles Schwab, doubters, Ripple, John Foley, Streisand Neto Organizations: YORK, Reuters, Securities and Exchange, Nasdaq, SEC, Citigroup, Commodity Futures, BlackRock, Bank, New York Mellon, Interactive, Securities and Exchange Commission, Thomson Locations: Washington, United States, U.S

☆ The hope that Q1 earnings was the trough may be dashed in Q2: Charles Schwab's Liz Ann Sonders
▼ + stars: | 2023-07-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe hope that Q1 earnings was the trough may be dashed in Q2: Charles Schwab's Liz Ann SondersLiz Ann Sonders, Charles Schwab chief investment strategist, joins 'Squawk on the Street' to discuss earnings season, the burst of optimism from market participants, and more.

Persons: Charles Schwab's Liz Ann, Liz Ann Sonders, Charles Schwab

U.S. stocks have made big gains this year, but the performance across global stocks has been uneven so far. So where will global stocks go in the second half of the year? Five of the strategists polled expect global markets to fall, while another five say the stocks will beat their U.S. counterparts. Global market bulls Those who expect global stocks to beat the U.S. are most bullish on the U.K., Europe and Japan. Global market bears Andreas Bruckner, European equity strategist at BofA Global Research, predicts that Europe's Stoxx 600 will end the year at 390 — a nearly 15% decline from Monday's close.

Persons: Christian Abuide, Karim Chedid, Liz Ann Sonders, Charles Schwab, Andreas Bruckner, Mark Haefele, Bruckner, Roger Lee, Lee, Haefele, Carrier Organizations: CNBC Pro, U.S, Lombard, iShares, BofA Global Research, UBS Global Wealth, Nasdaq, UBS, RBC Wealth Management Locations: Japan, China, U.S, Europe

☆ Here are Wednesday's biggest analyst calls: Apple, AT&T, Tesla, Amazon, Meta, Microsoft, Spotify and more
▼ + stars: | 2023-07-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan adds Qualcomm and HP Inc. to the focus list JPMorgan added HP Inc. to the focus list and said it's a top value idea. The firm also added Qualcomm to the focus list and says it's a top growth idea. JPMorgan adds Charles Schwab to the focus list JPMorgan added the stock to its focus list after its earnings report and said it sees "improving fundamentals." Bank of America reiterates Amazon as buy Bank of America said it's bullish heading into Amazon earnings later this month. Bank of America reiterates Block as buy Bank of America said shares of the company formerly known as Square are undervalued.

Persons: Tesla, it's, Charles Schwab, Schwab, Jefferies, Berkshire Hathaway, Archer, Guggenheim, ServiceNow Organizations: JPMorgan, Qualcomm, HP Inc, Watch, Cisco, " Bank of America, of America, Bank of America, Meta, UBS, Berkshire, Citi, Republic Services, Hollywood, Argus, Street, Aviation, UW, DuPont, Texas, Microsoft, Apple Locations: 2023E, 2025E, Berkshire, ACHR, EE

☆ Stocks making the biggest moves midday: Carvana, Goldman Sachs, AT&T and more
▼ + stars: | 2023-07-19 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Goldman Sachs — The banking titan advanced 1.6% despite missing expectations of analysts polled by Refinitiv for earnings and revenue. The company beat expectations for earnings expectations by one cent at $1.81 per share. Elevance Health — The stock rose 6% after Elevance Health beat analysts' expectations on the top and bottom lines in its second-quarter results. J.B. Hunt Transport Services — The transportation and logistics stock rose 1.5% despite a disappointing quarterly report. Qualcomm — Shares rose 2.8% after JPMorgan added the stock to its focus list and said it's one of the firm's best growth idea.

Persons: Goldman Sachs, Refinitiv, Goldman, Elevance, J.B, Hunt, Charles Schwab —, ServiceNow, —, Samantha Subin, Hakyung Kim, Sarah Min, Jesse Pound, Michelle Fox, Yun Li Organizations: Joby, JPMorgan, FactSet, Elevance Health, Revenue, Trust, Refintiv, Hunt Transport Services, Refinitiv, Western, Street Journal, U.S . AT, Argus, Qualcomm, Cisco —, Cisco, Bank of America Locations: FactSet, Tahoe

☆ Bank results lift stocks; Dow up for seventh straight session
▼ + stars: | 2023-07-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Shares of other banks such as Bank of New York Mellon (BK.N) and PNC Financial (PNC.N) also rose on Tuesday after they reported quarterly results. "I always hate to extrapolate the big bank earnings, which are always the first ones, to the rest of the market. The S&P 500 banks index (.SPXBK) advanced to its highest intraday level since March 10, when the start of a mini-bank crisis created a sharp sell-off in the sector. Charles Schwab (SCHW.N) shot higher as the best performer on the S&P 500 after the brokerage posted a smaller-than-expected drop in quarterly profit. Equities have rallied recently, with the S&P 500 and Nasdaq climbing to 15-month highs on data showing economic resilience, cooling inflation and a solid labor market.

Persons: Morgan Stanley, Tim Ghriskey, Ingalls & Snyder, JP Morgan, Charles Schwab, Bernstein, Chuck Mikolajczak, Richard Chang Organizations: Bank of America, Dow, Reuters Graphics Bank of America, Bank of New York Mellon, PNC Financial, PNC, Ingalls &, Nasdaq, Dow Jones, Technology, Microsoft, Thomson Locations: New York

☆ US bank shares jump on interest income and deals optimism, but outlook mixed
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +5 min

The bank said it expects full year NII to be up about 8% at about $57 billion. The bank's full year NII outlook remains unchanged at 20% growth, Chief Financial Officer Dermot McDonogh told analysts. Overall, its profit slipped 18% in the second quarter as a fewer deals hurt investment banking revenues. Sluggish deals have been a sore spot across Wall Street with global investment banking activity plunging to $15.7 billion in the second quarter, the lowest since 2012, according to Dealogic. While investment banking and trading were also a drag on earnings for big banks on Friday, JPMorgan likewise said the bank was seeing “green shoots” in trading and investment banking.

Persons: Nacho, Morgan Stanley, BNY Mellon, Dermot McDonogh, Robert Pavlik, BNY, Morgan, JPMorgan Chase, Charles Schwab, Walt Bettinger, MS.N, Morgan Stanley's, Sharon Yeshaya, Goldman Sachs, Mehnaz Yasmin, Niket, Jaiveer, Manya Saini, Saeed Azhar, Tatiana Bautzer, Lance Tupper, Johann Cherian, Michelle Price, Megan Davies, Nick Zieminski Organizations: of America, REUTERS, WASHINGTON, . Bank of America, Bank of New York Mellon Corp, Federal Reserve, Bank of, Wall, PNC Financial Services, Dakota Wealth, JPMorgan, Citigroup, PNC, Silicon Valley Bank, Reuters, Street, Thomson Locations: New York, U.S, Big U.S, NII, KBW, Wells Fargo, Silicon, Bengaluru

☆ U.S. banks shares spark after interest income boost, but outlook mixed
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Nacho Doce/File PhotoWASHINGTON, July 18 (Reuters) - Big U.S. banks on Tuesday said higher interest rates had helped boost profits in the second quarter, causing shares to spike, but a pullback in consumer spending, slower loan growth and increased deposit costs may cloud the outlook for the sector. Bank of America's net interest income (NII), which measures the difference between what banks earn on loans and pay out on deposits, rose 14% to $14.2 billion in the second quarter, helping it to beat Wall Street estimates. The bank said it expects full year NII to be up about 8% at about $57 billion. That has forced some banks to offer consumers higher returns to deter them from moving their deposits to competitors. Overall, the bank's profit slipped 18% in the second quarter as Wall Street's deal-making drought stunted revenue from investment banking, although investors were cheered by executives' positive outlook for M&A.

Persons: Nacho, BNY Mellon, Robert Pavlik, BNY, JPMorgan Chase, Charles Schwab, Morgan Stanley, MS.N, BofA, Mehnaz Yasmin, Niket, Manya Saini, Saeed Azhar, Tatiana Bautzer, Lance Tupper, Johann Cherian, Michelle Price, Megan Davies, Nick Zieminski Organizations: of America, REUTERS, WASHINGTON, Bank of America, Bank of New York Mellon Corp, Federal Reserve, Bank of, Wall, PNC Financial Services, Dakota Wealth, " Bank of America, JPMorgan, Citigroup, PNC, Silicon Valley Bank, Investment, Thomson Locations: New York, U.S, Big U.S, NII, KBW, Wells Fargo, Silicon, Bengaluru

Shares of Charles Schwab jumped 13.2%, leading gains on the S&P 500 (.SPX), and those of PNC rose 2.6%. The S&P 500 banks index (.SPXBK) has fallen 3.9% so far this year, in the aftermath of a banking crisis that took down three lenders and pummeled the sector, underperforming the S&P 500 index (.SPX) that has notched a 17.8% gain in the same period. ET, the Dow Jones Industrial Average (.DJI) was up 141.63 points, or 0.41%, at 34,726.98, the S&P 500 (.SPX) was up 3.12 points, or 0.07%, at 4,525.91, and the Nasdaq Composite (.IXIC) was down 43.61 points, or 0.31%, at 14,201.34. Eight of the top 11 S&P 500 sectors advanced with industrials (.SPLRCI) leading gains, while technology stocks (.SPLRCT) fell 0.6%. The S&P index recorded 20 new 52-week highs and no new lows, while the Nasdaq recorded 65 new highs and 33 new lows.

Persons: Morgan Stanley, Lockheed Martin, MS.N, Robert Pavlik, Wells, Charles Schwab, Bansari Mayur Kamdar, Johann M, Nivedita Bhattacharjee Organizations: Bank of America, Lockheed, Dow, Nasdaq, Dakota Wealth ., . Federal, JPMorgan Chase, PNC Financial Services, PNC, Dow Jones, industrials, Wall, U.S . Federal Reserve, ISI, NYSE, Thomson Locations: ., Bengaluru

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