AX - Financial stocks rise after Powell speech even as Treasury yields dip

Banks, insurance and consumer finance stocks are climbing after Federal Reserve Chairman Jerome Powell stuck to the Fed's July meeting minutes in his Jackson Hole speech on Friday. But Powell isn't the only economic news today. Consumer sentiment ticked higher in August, though not quite as much as expected. Personal income rose 1.1% in July, helped by higher wages and the Child Tax Credit. Even as bond yield slip — the 10-year Treasury yield falls 4 basis points to 1.32% — the Financial Select Sector SPDR ETF (NYSEARCA:XLF) rises 1.1%; in the past month, the ETF has risen 5.5%, outpacing the S&P 500's 1.1% increase. All the megabanks are in the green, led by Goldman Sachs (GS +1.7%), Morgan Stanley (MS +1.4%), and Wells Fargo (WFC +1.2%).  Regional banks CIT Group (CIT +2.7%), Axos Financial (AX +2.7%), and Bank OZK (OZK +2.6%) are also putting in strong performances. The stable

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Financial stocks rise after Powell speech even as Treasury yields dip