US Flash PMIs Surge to 5-Year Highs

‘US business continues to boom…..the latest survey data point to annualized growth of around 5% with a 4% gain now signalled for the third quarter as a whole.’

Financials Flounder

Big banks like Wells Fargo, Bank of America, and JPMorgan Chase slid on Tuesday as did financial services ETFs. Let’s see what’s going on.