US Stocks Rally With Banks Leading the Way
The Paragon Report Provides Stock Research on Goldman Sachs Group, Inc. and Wells Fargo & Company
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 03/28/12 -- Banks and financial companies have led this year's rally. The most widely held Financial ETF, Financial Select Sector SPDR Fund, has gained 22 percent. U.S. stocks may extend their rally by 30 percent this year as investors move money from bonds into stocks on growing confidence about the economy, said Michael Gayed, chief investment strategist at Pension Partners LLC. The Paragon Report examines the outlook for companies in the Banking Industry and provides equity research on Goldman Sachs Group, Inc. (NYSE: GS) and Wells Fargo & Company (NYSE: WFC).
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"Financials are the key to everything," said Gayed. "If banks are telling you things are OK through dividend increases and stock buybacks, it's an automatic sign the financial crisis is coming to an end and that they see an improvement."
The Federal Reserve recently said 15 of the 19 largest U.S. banks could maintain adequate capital levels even in a severe recession scenario that assumes they continue to pay dividends and buy back stock. "It is night and day," Jason Goldberg, senior analyst at Barclays Capital Inc. in New York, said before the announcement. "In 2009, about half the banks failed the stress test. The industry's capital position is higher today, and better quality. There is a lot less leverage."
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the Banking Industry register with us free at and get exclusive access to our numerous stock reports and industry newsletters.
Goldman Sachs Group, Inc. reported that the Federal Reserve did not object to Goldman Sachs' proposed capital actions through the first quarter of 2013, including the repurchase of outstanding common stock and a potential increase in its quarterly common stock dividend.
Wells Fargo & Company recently announced a record $2.8 billion in loan commitments and tax equity financing in 2011 to businesses and projects with a direct positive impact on the environment. That brings Wells Fargo's total environmental financing and investments to $11.7 billion since 2005, when the company first announced a dedicated environmental financing commitment.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 28.03.2012 - 06:20 Uhr
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