Major Bank Stocks Poised for Third Week of Gains on Rate Trends
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US Stocks:A Citibank branch in New York.Shares of big US banks are headed to a third straight weekly gain, the longest winning streak since August, after updates at an industry conference fueled optimism that they’ll continue benefiting from a resilient economy and the widening gap between short- and long-term interest rates. The KBW Bank Index has closed higher 13 out of the last 14 sessions and is up 4% this week, despite paring its advance during a broader market slump on Friday. It was up 13% since Nov. 20 through Thursday’s close, outperforming the S&P 500 Index’s nearly 6% gain for the same period.