David Tepper called US banks a “good” sector

May 14, 2013 3:20 pm

bank

The hedge fund-manager David Tepper boosted US small business confidence as commenting on S&P 500 eight record over past nine sessions. Bank of America and Citigroup inc. rose by 1.3%, S&P 500 did a 0.4% jump and Dow Jones Industrial Average grew by 0.3%. According to JP Morgan’s global market strategist Dan Morris “The liquidity will continue to support markets though there will be a price to pay in the future”, having in mine the economy growth perhaps. There is a ongoing growth of confidence in small business. That was supported by the National Federation of Independent Business’s index which came out today.

The US bull market is in its fifth year, S&P 500 surged 141% from year 2009, exceeding the estimations for corporate earnings and bond purchasing by the Fed.

Where to Trade

BinaryTribune is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action, Binary Options and Social Trading.

Related