Diamonds and Dogs

6/24/22

The big banks pass the stress test. Wells Fargo (WFC) is leading the big banks up 7% after passing the Fed's annual 'stress test.'  The Federal Reserve said that all of the nation's largest banks could weather a severe shock to the U.S. economy in an assessment that will allow them to boost shareholder returns over the coming year.

Defensive stocks pulling back. Verizon (VZ) is down 2% while UnitedHealth Group (UNH) is down a percent. No news for either stock, but with a risk on trade working, the defensive stocks are taking a back seat.

 

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