S&P Futures are trading higher this morning but have given up a good chunk of gains as traders refocus on the banking sector. While regulators have stepped in to provide security to depositors, lingering questions remain causing continued weakness in the sector. The two leading bank analysts for the past 2 decades are Mike Mayo and Dick Bove. Both are saying that this is not another issue like what we have seen in 2008. The good news is that the Fed is now unlikely to raise rates at next week's FOMC meeting. Boeing is received clearance to resume delivery of its 787 Dreamliner from the FAA and they are soon to announce new orders from Japan Airlines and the new Saudi Arabia airline. Seagen agreed to a $43B buyout from Pfizer ($229 per share).
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