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What Is Happening To Big Banks This Week?

      What Is Happening With The S&P500 Finance Sector This Week?
End Of The Week Check-In.


               Good early Friday afternoon. I hope you all have some nice weather where you are. It is snowy, and brisk here. I think the S&P decided to follow suit this week. There was lot's of action this week in the stock market. We saw a few Fed meetings, Q4 releases for household debt, and dividend reports. The S&P500, or $SFX, showed some promise prior to Thursday's late fed meeting. As we approached the midweek, we notice a larger decline for the month as the Fed's meet, and as we see a slowing in economic growth. The S&P500 is down 1.38% for the day, while Lincoln National is down 1.49% on the day. American Express is down 1.51% on the day which is surprising since it has been up 14.40% on the month. We see some changes as we enter the midday of trading on Friday with the S&P500 down 0.28% from open. That is down roughly 0.89% on the week.

             Lincoln National released a statement on Thursday announcing an update to it's quarterly dividend, which was agreed upon at $0.45 per share. The dividend is for the companies common stock, and will be payable on May 1st, 2023 in accordance with holdings at the close of business on April 10th 2023 (BW, 2023).

            We have an interesting few weeks ahead of us. We will be keeping a close eye on debt over the next few quarters. The Federal Reserve is doing what it can to slow inflation, but household debt among Americans reached a new high based on the fourth quarter reports from 2022. Total household debt in the United States rose from $16.5 trillion to roughly $16.9 trillion, an increase of $394 billion (NYFED,2023). Mortgage debt is still the main holder of most household debt among age groups. Student loans and auto loans are higher among those 18-29, but credit card debt is higher among those between 40-60 (NYFED, 2023). The next months, I will be looking at companies such as American Express, CapitalOne, and Discover. All loan service and credit card companies. All of which are also down a combined -2.62% on the day. A total of -8.32% on the week.

             Below I put a few of the stocks I have been monitoring closely this past week.

NYSE:AMX -
NYSE:SPX -



NYSE:LNC -


            Thanks to those who have read this and find this helpful! Please comment, like, and follow the blog. I appreciate all of your feedback and what questions you have. Next week I am excited to start the week off with a blog on a one-on-one Q&A I had with a loan officer based in Indiana! He has some exciting answers with the household debt and some interesting perspectives on personal savings!

Quinton S. Young
QSYCapital, LLC.
17 February 2023

https://www.businesswire.com/news/home/20230216005304/en/

https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2022Q4 


 




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