FNCL News and Press, Fidelity MSCI Financials Index From 01/07/21

After years as an index fund evangelist at top ETF firms like BlackRock and SSgA, Dodd Kittsley did a 180 of sorts, becoming Director of active manager Davis Advisors. Still opposed to the “closet indexing” that marks many active managers, he was drawn to Davis’ u...

The U.S. economy is set for a vaccine-fueled recovery in H2 2021, and if more fiscal support from Congress is available to bridge H1 pandemic weakness, financial stocks are well-poised for outperformance, write KBW analysts Frederick Cannon and Brian Kleinhanzl in a note to clients.However, i...

With plenty of positive news about potential COVID-19 vaccines in November, financial stocks in general have outpaced the S&P 500 in the past month, with consumer finance (red line in chart below), in particular turning in the best performance.Nasdaq U.S. Small Cap Banks Index (green), th...

The Federal Reserve Board, Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency issued a statement today to encourage banks to stop entering new contracts that use USD LIBOR as a reference rate ASAP and certainly by the end of 2021, a timeline the government...

As a percentage of the S&P 500's market cap, the Financial sector fell to below 10% to 9.9% of the S&P 500's market cap this summer, down from a 20% just prior to the real estate sector being spun out of the index as its own sector in September 2016. As of last Friday, Novembe...

Here's a roundup of some sell-side analyst comments on what the election and the uncertainty surrounding it means for financial names.With the odds leaning towards a Biden presidency and a Republican Senate, Glenn Schorr of Evercore ISI sees asset managers benefiting from lower rates/higher m...

Amid the uncertainty of the presidential election, financial stocks are slipping in premarket trading, after rallying in the the past four sessions.The Financial Select Sector SPDR ETF (XLF) falls 0.4% in premarket.Wells Fargo Securities analysts led by Mike Mayo advise to buy the d...

S&P Global Ratings sees global debt, as a percentage of GDP, swelling to a record 265% this year and insolvencies and defaults rising to levels not seen since the 2009 crisis.A near-term crisis, though, is unlikely, given the expected economic recovery, a COVID-19 vaccine by mid-2021, fav...

Six Democratic senators have introduced legislation that would specifically prohibit banks and other financial firms from discriminating against customers based on their race, religion, sexual orientation, and other characteristics, in an effort to close a loophole in the Civil Rights Act of ...

Earnings have fallen more than 50% this year because of slow loan growth, lower margins, and higher provisions. The excess capital over regulatory minimums should give investors confidence banks can weather further headwinds. Future risks include lower for longer interest rates an...