$DBS Group Holdings (D05.SG)$ US bank stocks surged after th...
US bank stocks surged after the Federal Reserve indicated potential interest rate cuts in 2024. The S&P 500 bank index rose by 4.4%, reaching its highest level since March. $Wells Fargo & Co(WFC.US$ and $Bank of America(BAC.US$ Global Research also raised banking sector price targets following the Fed's announcement. The $KBW Nasdaq Bank Index(.BKX.US$ and its Regional Bank counterpart $Spdr Series Trust S&P Regional Bkg Etf(KRE.US$ have increased by 5.08% and 4.83%, respectively. Lenders such as $Citizens Financial(CFG.US$, $Regions Financial(RF.US$, and $Zions Bancorp(ZION.US$ are among the top performers in the $S&P 500 Index(.SPX.US$.
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Deep SeaOP : SG bank stocks are under performing and cheaper compare to US bank stocks like BAC etc. DBS should do catch up sooner or later.
Deep SeaOP Deep SeaOP: DBS P/E is only 7.9 compare to US peers like BAC P/E 9.4.
Maniac Fool : TA is playing the trend for window dressing for end of year: the fund managers or institutions must “rise the price from the lows”. $31 should hold and surge upwards :) unless the bears want more blood…
Deep SeaOP Maniac Fool: