👀 Don’t Look Now, But Financial Stocks are Killing it On Earnings

Good morning. The big banks have nearly all reported earnings. And while many analysts have..

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

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Good morning. The big banks have nearly all reported earnings. And while many analysts have been concerned about how the banks can profit when interest rates are zero, those analysts are forgetting one key ingredient: The spread. When rates are zero, depositors at the bank are getting zero percent returns. The cost of capital to the bank is free, or nearly free. On the flip side, when a bank makes a loan, even a mortgage at today's low rates, they're still earning a decent spread. With the yield curve for Treasuries steeply positive, banks are actually doing quite well borrowing near zero and earning a few percent. Add in the revenues from trading or last year's record number of IPOs, and this is a sector that could be ripe for outperformance in the year ahead. Now here's the rest of the news: Sponsored Content The 32-Second Options Trading "Training Video" Retirees Can't Get Enough Of Options expert Jeff Clark is on a mission to show every American at or near retirement how easy it is to trade options. Watch his 32-second options trading "training video" HERE. MARKETS DOW 30,930.52 +0.38% S&P 3,798.91 +0.81% NASDAQ 13,197.18 +1.53% *As of market close • Stocks traded higher on Tuesday, buoyed by talk of further market stimulus. • Oil rallied 1.2 percent, closing at $53.00 per barrel. • Gold prices rose 0.5 percent, hitting $1,839 per ounce. • Cryptocurrencies traded somewhat sideways, with Bitcoin trading at $36,636. Today's TOP TIPS Will Space Tourism Be 2021's Top Trend? Investors are interested in space tourism, with a number of companies close to offering passengers low-orbit flights as a prelude to possible space travel. With that news has come a powerful rally for a number of stocks, and a few early investors are starting to lighten up their holdings. Is this a sign of a danger to come in the space? » FULL STORY Insider Trading Report: Steel Partners Holdings (SPLP) Gordon Walker, a Senior Vice President at Steel Partners Holdings (SPLP), recently doubled his holdings with a 70,182 share buy. The total cost came to just over $779,000. Insiders at the company have been active buyers in the past year, at prices as much as 50 percent lower than where shares currently trade. The last insider sale occurred in 2019. Overall, company insiders own over 25 percent of the company. » FULL STORY Unusual Options Activity: Coca Cola (KO) Shares of beverage giant Coca Cola (KO) have been in a downtrend in recent weeks. At least one trader sees a potential for a further long-term decline. That's based on the January 2023 $42.50 puts. Expiring in 730 days, the trade will move in-the-money if shares drop about 15 percent from their current price near $48.50. The trader paid about $4.33 on average to get into the trade. » FULL STORY IN OTHER NEWS • Janet Yellen suggests lawmakers "Act Big" during her confirmation hearings. • Office Depot rejects a takeover offer from Staples. • ViacomCBS rebrands CBS All Access to Paramount+. • Ransomware attacks against healthcare facilities surged last year. • Salesforce leads a $15 million investment in HR platform Darwinbox. • Microsoft partners with GM Cruise on self-driving cars. • Tesla Motors starts deliveries of the Chinese-made Model Y. • In earnings, Schwab beats estimates and accounts near 30 million. • Bank of America beats on profits, but revenues fall short. • Goldman Sachs handily beats on better-than-expected trading revenues. S&P 500 MOVERS TOP GM 9.746% KMX 9.386% ETSY 8.262% MAC 7.364% LYV 6.944% BOTTOM XRX 6.225% CXO 6.017% NOV 5.898% WELL 5.058% FOXA 4.7% Quote of the Day …we continued to see signs of a recovery, led by increased consumer spending, stabilizing loan demand by our commercial customers, and strong markets and investing activity. The latest stimulus package, continued progress on vaccines, and our talented teammates — who performed well helping their customers through this crisis — position us well as the recovery continues. - Bank of America CEO Brian Moynihan on the bank's operations, as well as how the economy will likely continue to lead to improving corporate returns in the year ahead. Sponsored Content The 32-Second Options Trading "Training Video" Retirees Can't Get Enough Of Options expert Jeff Clark is on a mission to show every American at or near retirement how easy it is to trade options. Watch his 32-second options trading "training video" HERE. 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