Wells: Bank and America

wells: Shares of JPMorgan, Citigroup, Wells Fargo Bank of America and M&T Bank were up between 0.14 per cent and 0.60 per cent in trading before the bell, according to Nine News Australia. With a third rate hike all but certain and chances of a fourth increase in December firming, after robust consumer confidence data on Tuesday, investors are focused on whether healthy economic growth will prompt the Fed to ramp up the pace of monetary tightening. To improve your experience update it here News World Futures steady ahead of expected rate hike10 07pm Sep 26, 2018Facebook Tweet MailUS stock index futures have edged higher, with bank stocks among the gainers, ahead of a widely expected Federal Reserve interest rate hike. Some analysts are expecting a more aggressive tilt, whether it comes in the policy statement, the accompanying economic and interest rate projections, or at Fed Chairman Jerome Powell's press conference. The question facing investors is how will the bond market react 'will yields skyrocket ' Initially we don't think so, but a steady long rise should be expected resulting in a challenge to equities. It's no secret that a rate hike is looming and most likely a Fed that is ready and willing to end an accommodating interest rate era, Peter Cardillo, chief market economist at Spartan Capital Securities in New York, wrote in a note. (news.financializer.com). As reported in the news.