Banks Hot Streak Looks To Continue

It looks like the banks will shoot higher again today, at least if the pre-market action holds up. This would put the win-streak at 5 for the much-battered sector. In addition to Bernanke’s comments about the US coming out of recession — not that that’s really new, since the Fed’s been wearing rose-coloured glasses the whole time — Barclays (BCS) made some comments this morning that echoed Citi about Q1 being decent. Its shares are up 15% pre market. The bank is also looking to sell its iShares ETF unit.

Other winners include Bank of America (BAC) and Citigroup (C) which are up about 8% each.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at