Thursday, May 4, 2023

Investor, Vote of No Confidence Following FOMC as Banks Back in Spotlight

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Free TheoNight Report - for Thursday, May 4, 2023 by Brandon Chapman - Vote of No Confidence Following FOMC as Banks Back in Spotlight

 

Despite Chairman Powell attesting to the strength of the banking system, regional banks were back in the spotlight as the sell-off resumed following yesterday's close. The bearish tenor from yesterday extended in today's trading session as bearish options activity continued to escalate. Is the move over and is the market beginning to price in a rate cut? (KRE, USB, KEY, BAC, CMA, KEY, DEN, MRO, GDX)

 

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