{"id":2081,"date":"2023-05-08T07:08:03","date_gmt":"2023-05-08T05:08:03","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=2081"},"modified":"2023-05-08T07:14:44","modified_gmt":"2023-05-08T05:14:44","slug":"bank-stocks-nearing-a-crisis-era-threshold-raises-warning-sign","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=2081","title":{"rendered":"Bank Stocks Nearing a Crisis-Era Threshold Raises Warning Sign"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<h5 align=\"center\"><u><span style=\"font-family: Liberation Mono; font-size: large;\">S&amp;P 500 financials threaten to push back below 2007 peak<\/span><\/u><\/h5>\n<h5 align=\"center\"><u><span style=\"font-family: Liberation Mono; font-size: large;\">\u2018You can\u2019t have a bull market if bank stocks are falling\u2019<\/span><\/u><\/h5>\n<div class=\"byline-by__590861d7\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246            \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0            #0000; margin: 0px 5px 0px 0px; padding: 0px; border: 0px; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: inherit; vertical-align: baseline; display: inline-block;\">By<\/div>\n<p class=\"author__619cf27c\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20px; line-height: 1.2; font-family: inherit; vertical-align: baseline; display: inline-block; white-space: pre;\">Jess Menton,<\/p>\n<p class=\"author__619cf27c\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20px; line-height: 1.2; font-family: inherit; vertical-align: baseline; display: inline-block; white-space: pre;\">Elena Popina and<\/p>\n<p class=\"author__619cf27c\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20px; line-height: 1.2; font-family: inherit; vertical-align: baseline; display: inline-block; white-space: pre;\">Breanna Bradham<\/p>\n<address class=\"lede-byline__a846e17f\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0        0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: 1.5; font-family: PublicoText-Roman-Web, Georgia, Cambria,;\">\n<div style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: inherit; vertical-align: baseline;\" data-testid=\"byline-component\">\n<p><span style=\"font-family: inherit; font-variant-ligatures: inherit; font-variant-caps: inherit; font-weight: inherit; color: initial;\">May 7, 2023 at 9:32 PM GMT+4<\/span><\/p>\n<\/div>\n<\/address>\n<div class=\"lede-times__03902805\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0        0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: 1.5; font-family: PublicoText-Roman-Web, Georgia, Cambria,;\"><time style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: inherit; vertical-align: baseline;\" datetime=\"2023-05-07T17:32:58.760Z\" data-locale=\"en\">\u00a0<\/time><\/div>\n<div class=\"lede-times__03902805\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0        0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: 1.5; font-family: PublicoText-Roman-Web, Georgia, Cambria,;\">\n<p style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0px 0px          24px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">The selloff in US bank shares is threatening to push them below a technical threshold that could signal more pain ahead for the broader stock market.<\/p>\n<p style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">With the collapse of\u00a0First Republic Bank\u00a0worsening fears about the solvency of regional lenders, investors have pummeled financial stocks, leaving the S&amp;P 500 financials index on the verge of falling back below its 2007 peak. For perspective, after the 2008 credit crash it took over a decade for that gauge to recover the ground it lost.<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">The financials index has been above the 2007 high since January 2021. If were to fall through that barrier now, it would be an ominous signal for the broader stock market, said hedge-fund manager Jim Roppel, founder of\u00a0Roppel Capital Management.<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\"><span style=\"color: initial; font-variant-ligatures: inherit; font-variant-caps: inherit; font-size: revert; font-family: inherit; font-weight: inherit;\">Why? Because it could put further pressure on banks to conserve capital and cut back on lending, adding a drag to an economy already at risk of a recession after the Federal Reserve\u2019s steep interest-rate increases over the past 14 months.\u00a0<\/span><\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">\u201cYou can\u2019t have a bull market if bank stocks are falling,\u201d said Roppel, who\u2019s a long-term bull but currently is mostly in cash with the rest in defensive plays like gold and gold miners. \u201cIt\u2019s like if an Olympic athlete had cinder blocks around their legs.\u201d<\/p>\n<h3 id=\"wild-week\" class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/ 0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0 #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 0.77em 0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: bold; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: BWHaasGroteskWeb, Helvetica, Arial, sans-serif; vertical-align: baseline; color: #000000; font-style: normal; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: #ffffff; text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;\">Wild Week<\/h3>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">Concerns about the stability of the banking system contributed to a tempestuous week as investors aggressively bet against the stocks. While the share prices rebounded on Friday amid speculation the selling was overdone, many remained down steeply, with\u00a0Western Alliance Bancorp\u00a0sinking 27% last week and\u00a0PacWest Bancorp\u00a0plunging 43%.<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">Individual investors \u2014 who were some of the market\u2019s most reliable dip buyers in 2020 and 2021 \u2014 scooped up some bank stocks amid the rout. In the week through Wednesday, they were net buyers in shares of\u00a0Bank of America Corp.,\u00a0Truist Financial Corp.\u00a0and SoFi Technologies Inc., data compiled by\u00a0JPMorgan Chase &amp; Co.\u2019s Peng Cheng show.<\/p>\n<aside class=\"left-rail-newsletter paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; display: block; font-synthesis: none; margin: 0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web, Georgia, Cambria,;\"><\/aside>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">But there\u2019s continuing concern on Wall Street that the ongoing turmoil among regional banks could fuel a tightening in lending. In fact, traders are betting that the toll could be so great that they stepped up wagers that the Fed \u2014 which just signaled that Wednesday\u2019s rate hike may be its last \u2014 will start easing monetary policy as soon as July to stimulate the economy.<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">Even so, Nancy Tengler, chief investment officer of Laffer Tengler Investments, said it\u2019s too soon to wade back into shares of beaten up banks. Instead, she\u2019s been focused on technology and consumer-related stocks that would benefit from a drop in interest rates, though her firm added shares\u00a0PNC Financial Services Group Inc.\u00a0after it delivered strong profit growth and growing deposits.<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">\u201cIt\u2019s not smart to chase some of these other bank stocks,\u201d Tengler said. \u201cYou have to let the falling knife fall.\u201d<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">Friday\u2019s stock-market rebound was fueled by the stronger-than-expected monthly jobs report for April, which tempered fears of a recession. Still, while the 1.9% rally in the S&amp;P wiped out most of last week\u2019s decline in the broad benchmark, the financial stocks in the index lost 2.7% over the five sessions.<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">Scott Colyer, chief executive at Advisors Asset Management, said the S&amp;P 500 would have to slump to 3,600 or lower for him to become more optimistic about stocks, as valuations remain pricey. It closed at about 4,136 Friday.<\/p>\n<p class=\"paywall\" style=\"--tw-border-spacing-x: 0; --tw-border-spacing-y: 0; --tw-translate-x: 0; --tw-translate-y: 0; --tw-rotate: 0; --tw-skew-x: 0; --tw-skew-y: 0; --tw-scale-x: 1; --tw-scale-y: 1; --tw-scroll-snap-strictness: proximity; --tw-ring-offset-width: 0px; --tw-ring-offset-color: #fff; --tw-ring-color: rgb(59 130 246 \/          0.5); --tw-ring-offset-shadow: 0 0 #0000; --tw-ring-shadow: 0 0          #0000; --tw-shadow: 0 0 #0000; --tw-shadow-colored: 0 0 #0000; margin: 24px          0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-alternates: inherit; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 20px; line-height: inherit; font-family: PublicoText-Roman-Web,          Georgia, Cambria,;\">\u201cWe have to see have financials leading the way for the stock market to be in a sustainable uptrend \u2014 but that\u2019s not what\u2019s happening,\u201d Colyer cautioned. \u201cDon\u2019t pick up nickels and dimes in front of a steam roller.\u201d<\/p>\n<\/div>\n<\/div>\n<div class=\"postie-attachments\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>S&amp;P 500 financials threaten to push back below 2007 peak \u2018You can\u2019t have a bull market if bank stocks are falling\u2019 By Jess Menton, Elena Popina and Breanna Bradham May 7, 2023 at 9:32 PM GMT+4 \u00a0 The selloff in US bank shares is threatening to push them below a technical threshold that could signal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-2081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/2081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2081"}],"version-history":[{"count":1,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/2081\/revisions"}],"predecessor-version":[{"id":2084,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/2081\/revisions\/2084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/2082"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}