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Hi @Maurice Financials have had some thumps to the downside recently, eh? Could be a plain "oversold" and/or some folks think that yields on bonds are going higher and will stay; which eventually may allow banks to earn a bigger spread and profits.
Here are two random examples starting Feb. 2017 when many financials were are a short term "high". Wells Fargo has other problems, too; eh?
Bonds appeared to hiccup Monday, after hitting absurdly, rediculously and insanely low yields last week. That had weakened financials. So a rebound was coming in financial companies like banks, which benefit from higher yields. Among my income-focused (bond heavy) funds, the following fell Monday: DODIX, RPSIX, OUSGX, PRFHX, DODLX. On the other hand, DODBX, holding many of the same bonds as sister-fund DODIX, had a decent day (+.41%) because its equities are heavily weighted towards the financial sector. Gold also reversed course on the higher rates, falling about $15. The 10-year is off slightly again this morning, it's yield inching up to 2.15%.
Bonds at these low rates may resemble Irma's approach. Sunshine and warm sea breezes right up until all hell breaks loose. Than, run for cover.
Hi @Maurice Appears there is not any defined reason for bump in this sector. 'Course it is more than just banks, eh?
Maurice, I'm making no presumption about your use or familiarity with StockCharts; as there is way too much one may play with at the site, and for my limited available time, I have not dug too far into everything in the tools department at their site.
***Below, from your original list of financials; I changed the time frames using the "slider ends" within the 200 day area. Their charts always default for a 200 day time frame. Once either of the sliders are moved for a different time frame, scroll down a tiny bit and "find" the "Permalink" icon. Click upon this and then you will see a "box" just below this "highlight" in blue. The changes you made in the graph time frame will now be part of the link to show the graph and your changes. Right click upon the blue highlighted link and select copy. You may now paste this here or where ever you choose.
Comments
Financials have had some thumps to the downside recently, eh? Could be a plain "oversold" and/or some folks think that yields on bonds are going higher and will stay; which eventually may allow banks to earn a bigger spread and profits.
Here are two random examples starting Feb. 2017 when many financials were are a short term "high". Wells Fargo has other problems, too; eh?
http://stockcharts.com/freecharts/perf.php?BAC,WFC&n=139&O=011000
Bonds at these low rates may resemble Irma's approach. Sunshine and warm sea breezes right up until all hell breaks loose. Than, run for cover.
Appears there is not any defined reason for bump in this sector. 'Course it is more than just banks, eh?
Maurice, I'm making no presumption about your use or familiarity with StockCharts; as there is way too much one may play with at the site, and for my limited available time, I have not dug too far into everything in the tools department at their site.
***Below, from your original list of financials; I changed the time frames using the "slider ends" within the 200 day area. Their charts always default for a 200 day time frame. Once either of the sliders are moved for a different time frame, scroll down a tiny bit and "find" the "Permalink" icon. Click upon this and then you will see a "box" just below this "highlight" in blue. The changes you made in the graph time frame will now be part of the link to show the graph and your changes. Right click upon the blue highlighted link and select copy. You may now paste this here or where ever you choose.
--- Feb. 10, 2017 to current.
http://stockcharts.com/freecharts/perf.php?BAC,WFC,SYF,V,C,JPM,BLK,MA&n=147&O=011000
---July, 2014 to current. Note WFC vs Visa for the time period (total return % at far right of graphic.
http://stockcharts.com/freecharts/perf.php?BAC,WFC,SYF,V,C,JPM,BLK,MA&n=786&O=011000