Thread: Bank Stocks

Daily Market Commentary for September 13, 2010

Bank Stocks

Bank stocks lead the rally today, on news that China and Europe are planning on higher capital standards. (Read more at Millennium-Traders.Com)

Economic data released today: N/A

At the NYSE closing bell on the New York Stock Exchange, here is how the major world indices and major U.S. stock indices ended the trading session on the world markets as well as the emerging markets including the stock market closing bell price:
DOW (Dow Jones Industrial Average) gain 81.58 points, EOD 10,544.35
NYSE (New York Stock Exchange) gain 87.74, EOD 7,155.25
National Association of Securities Dealers Automated Quotations (NASDAQ) gain 43.24 points, EOD 2,285.72
S&P 500 (SPX) gain 12.3 points, EOD 1,121.85
BEL 20 (BEL20) gain 41.09 points, EOD 2,610.81
CAC 40 (CAC40) gain 41.33 points, EOD 3,767.15
FTSE100 (UKX100) gain 63.89 points, EOD 5,565.53
NIKKEI 225 (NIK/O) gain 82.65 points, EOD 9,321.82

New York Stock Exchange (NYSE) stock market indicators for the trading session today:
Advanced stock prices 2,406, declined stock prices 695, unchanged stock prices 68, stock prices hitting new highs 239 and stock prices hitting new lows 5. NYSE quotes for volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the New York Stock Exchange stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: RIG gain 0.03, HOD 60.10, LOD 58.26, EOD 58.85; V shed 2.63, HOD 68.00, LOD 64.90, EOD 65.46; MA shed 5.53, HOD 196.70, LOD 191.00, EOD 192.61; DGW shed 8.61, HOD 20.29, LOD 10.55, EOD 12.09; GS gain 3.76, HOD 154.70, LOD 152.30, EOD 154.15; CRM gain 1.11, HOD 120.00, LOD 116.90, EOD 118.53; CME gain 6.24, HOD 272.05, LOD 267.16, EOD 271.14; EOG shed 0.02, HOD 93.15, LOD 91.64, EOD 92.18; POT shed 1.04, HOD 149.39, LOD 147.00, EOD 147.80; CLR gain 1.16, HOD 44.47, LOD 43.47, EOD 44.26.

National Association of Securities Dealers Automated Quotations (NASDAQ) stock market indicators for the trading session today:
Advanced stock prices 2,133, declined stock prices 564, unchanged stock prices 127, stock prices hitting new highs 103 and stock prices hitting new lows 22. NASDAQ quotes, volatile stocks and market trends, as well as stock quotes, stock prices and stock symbols of Day Trading Stock Picks on the NASDAQ stock market for Day Trading online and active Day Trading for those who are or would like to be Day Trading for a living: MTRX shed 0.22, HOD 9.19, LOD 8.35, EOD 9.09; GENZ shed 0.50, HOD 70.78, LOD 70.21, EOD 70.29.

Market trends on the American Stock Exchange (AMEX) and stock market indicators for the trading session today:
Advanced stock prices 315, declined stock prices 170, unchanged stock prices 27, stock prices hitting new highs 19 and stock prices hitting new lows 4.

Chicago Board of Trade Futures Market for the day, at time of this posting:
E-mini S&P 500 (ES) Mar 10: EOD 1117.50; Change 12.50
E-mini NASDAQ-100 (NQ) Mar 10: EOD 1,921.00; Change 31.25
E-mini DOW $5 (YM) Mar 10: EOD 10,484; Change 91
Nikkei 225 (Yen) Mar 10: EOD 9,290; Change 40

World Currencies for the Forex Market, for Forex Trading by active Forex Traders, at time of this posting:
Euro 0.7765 to U.S. Dollars 1.2900
Japanese Yen 83.6250 to U.S. Dollars 0.0119
British Pound 0.6484 to U.S. Dollars 1.5400
Canadian Dollar 1.0278 to U.S. Dollars 0.9738
Swiss Franc 1.0073 to U.S. Dollars 0.9927

COMMODITY MARKETS:
Energy Sector - Nymex:
Light Crude (October 10) gain $0.74, EOD $77.19 per barrel ($US per barrel)
Heating Oil (October 10) gain $0.01, EOD $2.12 a gallon ($US per gallon)
Natural Gas (October 10) gain $0.05, EOD $3.94 per million BTU ($US per mmbtu.)
Unleaded Gas (October 10) gain $0.00 EOD $1.98 gallon ($US per gallon)

Metals Markets - Comex:
Gold (September 10) gain $0.60, EOD $1,245.10 ($US per Troy ounce)
Silver (September 10) gain $0.30, EOD $20.11 ($US per Troy ounce)
Platinum (September 10) gain $7.40, EOD $1,549.90 ($US per Troy ounce)
Copper (September 10) gain $0.07, EOD $3.47 ($US per pound)

Livestock and Meat Markets - Chicago Mercantile Exchange (cents per lb.):
Lean Hogs (October 10) shed $0.95, EOD $76.30
Pork Bellies (February 10) unchanged, EOD $105.80
Live Cattle (October 10) gain $0.30, EOD $97.45
Feeder Cattle (September 10) gain $0.65, EOD $112.35

Other Commodities - Chicago Board of Trade (cents per bushel):
Corn (September 10) gain $5.25, EOD $469.25
Soybeans (September 10) gain $1.75, EOD $1,025.25

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Millennium-Traders.Com

High interest rates hurt banks but hurt banks like Citicorp with a lot of fee income less. Banks growing in size does not mean stock market gains. Profitability key. Citicorp best of the 3 big 1s you mentioned & Glacier Bancorp good smaller 1.

Is it a good idea to invest in Banks such as Citigroup or Bank of America or Washington Mutual or other banking groups?

ive noticed that almost all of the banks grow over time, steadily but into very high ranges.

do you think Citigroup or Bank of America has the possibility of going higher??? cause what reasons are there for it to fall??? practically none in my opinion, i dont know i might be wrong. what do you think?

is it a good idea to invest in new small banks or in old big bank companies?

Be careful - there are a rton of banks waiting on the list to claim bankrupcy.