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Financials lead market higher ahead of CCAR results

Mar. 11, 2015 11:22 AM ETThe Kroger Co. (KR) StockXLF, IYF, IYG, VFH, KR, KCE, KBE, IAI, IAT, KRE, RSPF, UYG, FXO, SEF, FAS, FAZ, RWW, KRU, QABA, KRS, KBWB, KBWC, KBWR, FINU-OLD, FINZ, FNCLBy: Stephen Alpher, SA News Editor
  • Last Thursday evening's stress test results were just the warm-up act for the CCAR decisions due today at 4:30 ET. While all 31 banks subjected to the extra scrutiny of the stress test passed, it doesn't mean the Fed will approve their capital return plans, and while some - Goldman Sachs, Zions, and Morgan Stanley - barely squeaked by, it doesn't mean the Fed won't approve their buyback and dividend proposals.
  • After the CCAR results are released, expect most of the group of 31 to announce their capital return plans.
  • For foreign lenders with U.S. units - Deutsche Bank and Santander come to mind - the Fed only has a say into what the subsidiary sends back to the parent, not what the parent ultimately returns to shareholders.
  • XLF +0.6%, KBE +0.45%, KR +0.4%.
  • ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, IAT, IAI, SEF, IYG, FXO, FNCL, KBWB, QABA, FINU, KCE, KRU, RWW, KBWR, RYF, KBWC, FINZ, KRS
  • Previously: Stress test roundup: How the lenders stack up vs. last year (March 5)

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