Bank stocks are likely see material weakness in the second half of 2014 unless the economy picks up and interest rates begin to rise, analysts contend.
On the banks of the Mississippi, where people are free from Bank of America and Wells Fargo, they stand to be captive to Walmart.
Prospect Capital shares are likely to see a short term rally once the company resolves an accounting dispute with the Securities and Exchange Commission, an event expected within one to five weeks.
Pending home sales rise 0.4% in April and are 9.2% below last year's pace, according to the National Association of Realtors.
Bank of America investors looking for details from Brian Moynihan Wednesday about whether the company will seek a dividend increase or share buyback were disappointed, as the CEO declined to give any new specifics on what the bank is seeking from the Federal Reserve.
Bank of America's corporate and investment banking chief emphasized the institution's size-related advantages during a presentation Tuesday, in what could be seen as a rebuttal to critics who argue the largest U.S. banks need to be broken up.
Bank of America shares were rising early Tuesday as the bank resubmitted a capital plan to regulators following a $4 billion error that forced it to scrap a planned dividend hike and share repurchase.
Wells Fargo is 'best positioned of any bank' to benefit from sooner-than-expected tightening of monetary policy by the Federal Reserve and 'a renewed desire by the government to aid housing,' argues Rafferty Capital Markets analyst Dick Bove in a report published Thursday.
Existing home sales rose by 1.3% in April after declining 0.2% in March according to the National Association of Realtors (NAR).
A working group of federal and state authorities responsible for extracting a $13 billion settlement from JPMorgan Chase late last year over abuses tied to mortgage bonds still has 'more than a dozen ongoing investigations,' which will lead to billions of dollars in additional costs to financial companies, according to Michael P. Stephens, Acting Inspector General of the FHFA.