Finance
Bank Stocks Are Laggards as Questions on Fed Complicate Outlook
- Investors digest signals on net interest income, loans, deals
- Views on interest income hinge on degree of expected rate cuts
A Wells Fargo bank branch in New York.
Photographer: Angus Mordant/BloombergThis article is for subscribers only.
When earnings season kicked off for Corporate America this month, all eyes were on whether the biggest US banks could deliver bullish enough outlooks to extend last quarter’s rally in their shares.
They didn’t, and the KBW Bank Index slumped to its worst losing streak since August. The gauge is trailing the broader stock market in January, even after surging Friday.