The banking industry is likely to have benefited from a powerful profit formula, including tax cuts, rising interest rates and more robust economic growth, as earnings reports pour in today from Citigroup (C), JPMorgan (JPM), PNC (PNC) and Wells Fargo (WFC). With financials comprising 14.7% of the S&P 500's market cap, the second highest after technology, such a big move could provide a big boost for the market.
Economy
It's the first Chinese trade deficit in more than a year. With analysts pointing to seasonal factors like China's New Year holiday, dollar-denominated exports fell 2.7%,