trending Market Intelligence /marketintelligence/en/news-insights/trending/gp7xvhs2atzw2vpighmi2g2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Friday's Bank Stocks: Markets close higher on reports of a smaller Deutsche fine

Municipal-Run Fiber Tops 280000 Subscribers In 2018

The Essential Conference 2019 Highlight Reel

Mobile Payment Apps Driving Fintech Frenzy In India

Street Talk Episode 42: Banks losing consumer deposits to fintech, digital platforms, commercial might be next

Friday's Bank Stocks: Markets close higher on reports of a smaller Deutsche fine

Markets closed higher Friday Sept. 30 after a surfaced claiming thatDeutsche Bank AG is closingin on a $5.4 billion settlement with the U.S. Department of Justice overmis-selling residential mortgage-backed securities.

If confirmed, the revised settlement would be asubstantially smaller amount than the $14billion preliminary bid two weeks ago. The news slightly alleviatedconcerns over a possible Deutsche failure that could force the to help.

As markets continue to tread water in the wake of nonactionin last week's FOMC meeting, investors are getting jumpy on risks like theDeutsche collapse, said Doug Roberts, founder and chief investment strategistfor

"What you really have to look at are things outside of therange of expectations," said Roberts. "That's what is going to movethe market. And you saw that initially with Deutsche. It's the new black swan."

The Dow Jones Industrial Average closed up 0.91% to18,308.15, the S&P 500 climbed 0.80% to 2,168.27, and the Nasdaq compositeindex increased 0.81% to 5,312.00.

Roberts also attributed the market gains to the morning'sreported increase in the ISM's PMI index, a measure of business activity thatindicates an expansionary economy if the reading is over 50. September'sreading was 54.2 — 2.7 points up from August.

Bank stocks saw larger gains. The SNL U.S. Bank Index rose1.58% to 413.68. JPMorgan Chase& Co. rose 1.43% to $66.59, Citigroup Inc. popped 3.12% to $47.23, and closed up3.23% to $15.65. XenithBankshares Inc. increased 5.96% to close at $2.31 while increased 3.37% to$10.11.

Wells Fargo& Co. slipped 0.20% to $44.28 as the company continues to dodamage controlregarding their cross-selling scandal. Paragon Commercial Corp. lost 2.34% to close at $36.28.

In thrifts, NewYork Community Bancorp Inc. rose 0.92% to close at $14.23. The SNLU.S. Thrift Index added 0.91% to 827.17.

Market pricesand index values are current as of the time of publication and are subject tochange.