Why it's going to be tougher for banks to keep rallying [CNBC]
Morgan Stanley (MS)
Last morgan stanley earnings: 4/16 07:15 am
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Source: CNBC
The rally is slowing down, and with good reason. Last week the rally was based on financials, industrials, materials and health care. But one by one, sector leaders have wilted. Now, banks are one of the few leadership groups left. The bank ETF KBE , a basket of big bank stocks, is up a phenomenal 14.8 percent since the election. All the big names are at 52-week highs. It's going to be tougher to get those kinds of gains from here. It's not that I have a crystal ball. I'm just using simple statistics. The S&P financial sector is trading almost 20 percent above its 200-day moving average, a more than four- standard deviation move, according to Paul Hickey at Bespoke. To give you an idea of how rare this is, a four-standard deviation move means that it will move outside that range once in more than 15,000 times. Think how rare that is. According to Hickey, it hasn't happened since 1989, and that's when record-keeping for this kind of stuff
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MS
Earnings
- 4/16/24 - Beat
MS
Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- MS's page on the SEC website