00:00 It's Benzinga and here's what's on the block. After achieving their best quarter since 2021,
00:04 major US banks are about to begin their earnings reports following a 23% rise in the US Bank Stock
00:09 Index last quarter. Bank stocks rebounded in late October of 2023 as investors grew optimistic that
00:15 the Federal Reserve would stop hiking interest rates without causing a recession. Attention
00:19 is now turning to the possible relaxation of these policies and how it will affect banks'
00:22 loan portfolios, deposit rates, and overall business operations. Financial companies are
00:27 anticipated to report significant payments, including Citigroup's expected $1.7 billion
00:32 expense to the FDIC due to last year's regional bank failures. Hedge funds have been selling
00:36 shares in the financial sector and there have been net sales from institutions and
00:39 retail clients as well. For all things money, visit Benzinga.com.
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