Big banks on the rise; regionals, not as much

|By:, SA News Editor

After solid Q3 earnings reports from Goldman Sachs Group (GS +2.5%) and Morgan Stanley (MS +5.4%), the big banks are rising strongly today. They were the last of the six big U.S. banks to report.

JPMorgan climbs 2.0% in afternoon trading, as Bank of America (BAC +1.8%), Wells Fargo (WFC +0.8%), and Citigroup (C +0.9%) are all up as well.

Financial Select Sector SPDR ETF (NYSEARCA:XLF), a broad financial ETF including JPM, BAC, WFC, C, and GS as components, is up 1.4%.

Regional banks are mixed. Most regional banks have yet to report; Comerica (CMA -1.4%) Q3 revenue fell short of expectations when it reported Tuesday. On Friday, PNC Financial Services (PNC -1.1%) posted disappointing loan and deposit growth.

The SPDR S&P Regional Banking ETF (KRE -0.1%) slips a bit.

BlackRock (BLK -4%) slumps as the asset manager saw $3.1B net outflows during the quarter. Most other asset managers are on the rise, including AllianceBernstein (AB +2.4%), WisdomTree Investments (WETF +2.6%),  Franklin Resources (BEN +1.3%), and T. Rowe Price Group (TROW +1.2%).

Previously: Goldman gains 1.4% in premarket on `solid' Q3 results (Oct. 16)

ETFs: XLF, FAS, FAZ, KRE, VFH, KBE, UYG, FNCL, IYF, BTO, IAT, IYG, KBWB, IAI, RYF, QABA, KBWR, FXO, SEF-OLD, FINU, DPST, RWW, KCE, FINZ, WDRW, JHMF, FAZZ, FTXO

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