In today's video:
1) It was another mixed close for U.S. Equities today as Bank stocks soared but Technology stocks and Small Caps remain under pressure. The Dow Jones Industrial Average gained 158.80 points, the S&P 500 added 3.64 points while the Nasdaq 100 closed lower by 6.07 points and the Russell 2000 finished lower by 8.04 points.
2) Crude Oil Futures gained another $1.32 or 1.89% after the fifth weekly drop in U.S. Crude stockpiles while Gold Futures closed higher by $5.90 or 0.49% on slight weakness in the U.S. dollar. The Bond market continued to spiral lower lifting the yield on the 10-year treasury note to 3.066%.
3) One sector that usually performs well during an environment of rising rates is the banking sector. Higher yields usually lead to a sharp increase in assets under management which leads to higher share prices for banking stocks. In today's video, we will review four big names in the banking sector that everyone should have on their watchlist.