US bank stocks rise as jumbo rate cut eases default risk, cost concerns [Yahoo! Finance Canada]
TransUnion (TRU)
Last transunion earnings: 4/28 06:50 am
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Source: Yahoo! Finance Canada
(Reuters) - U.S. bank stocks rose in premarket trading on Thursday, a day after the Federal Reserve cut interest rates by 50 basis points, which is expected to reduce deposit costs and alleviate pressure on borrowers. Elevated interest rates have weighed on loan growth and consumer spending this year, while also increasing fears of borrowers defaulting on their loans. Commercial real estate loan portfolios have been under immense pressure due to high rates and lack of demand for office spaces, prompting banks to set aside billions as a cushion against delinquencies. "For banks, particularly those that hold mortgages and auto loans, there may be a benefit to spreads in the near term," said Charlie Wise, senior vice president and head of global research and consulting at TransUnion. Citigroup led gains in large-cap bank stocks with a 1.8% rise before the bell, followed closely by Bank of America and Wells Fargo, which climbed 1.6% and 1.55% respectively. JPMorgan, the largest
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News
- TransUnion (NYSE:TRU) delivers shareholders decent 38% return over 1 year, surging 3.0% in the last week alone [Yahoo! Finance]Yahoo! Finance
- US bank stocks rise as jumbo rate cut eases default risk, cost concerns [Yahoo! Finance]Yahoo! Finance
- US bank stocks rise as jumbo rate cut eases default risk, cost concerns [Yahoo! Finance Canada]Yahoo! Finance Canada
- Fed cuts interest rates for first time in 4 years – here's what that means for your wallet [FOX Business Network]FOX Business Network
- US borrowers to get quick relief as Fed cuts rates, analysts say [Yahoo! Finance]Yahoo! Finance
TRU
Earnings
- 7/25/24 - Beat
TRU
Sec Filings
- 9/17/24 - Form 4
- 9/13/24 - Form 144
- 9/5/24 - Form 4
- TRU's page on the SEC website