[CNBC Television] JPMorgan is in the best position to outperform large banks: Analyst

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: The Dow closed with its biggest point gain ever on Monday. The surge recouped more than 40% of its recent losses. Jeffery Harte of Piper Sandler and Julian Emanuel, chief equity and derivatives strategist at BTIG, joins “Squawk Box“ to discuss whether the rally can last. Bank stocks sold off in unison on Tuesday following the Federal Reserve’s emergency rate cut to combat an economic slowdown triggered by the fast-spreading coronavirus. The weakness by the group kept the overall markets’ gains in check. Shares of JPMorgan and Bank of America dropped 3.7% and 5.5%, respectively, while Citigroup and Morgan Stanley fell more than 3%. The declines accelerated after the Fed slashed interest rates by half a percentage point on Tuesday in between its policy meetings, the first such cut since the financial crisis. Bank margins could take a hit if they are paying out deposit rates at a higher level than market rates. Their earnings are also hurt when the spread between short-term and long-term rates flattens, a phenomenon that could worsen if the Fed cuts. The shares have been under pressure lately as the 10-year Treasury yield declined to a record low amid a broad stock market sell-off. The group failed to bounce on Tuesday as the rest of the market rebounded. “No large bank short term is immune to the negative impact of lower interest rates on spread revenues,” Mike Mayo, Wells Fargo’s bank analyst, said in a note on Monday. The SPDR S&P Bank ETF tumbled more than 13% in 2020 alone as the yield on the 10-year Treasury note plummeted 40 basis points. Investors have fled stocks and rushed into bonds, scrambling for safety, as the epidemic stoked fears of a global economic slowdown or even a recession. For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBC TV