Here’s Why Traders Are Watching Twitter, Bank of America, Wells Fargo, and More

Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), and Deutsche Bank AG (USA) (NYSE:DB) are in the spotlight due to the FOMC’s upcoming decision on interest rates later this afternoon. If the Fed raises and hints/guides for faster than expected hikes in the future, sentiment around the stocks could become even more bullish.

Separately, Bank of America released some loan metrics for last month, with the February default rate inching lower to 2.4% from 2.51%. The 30 day plus delinquency rate rose to 1.63% from 1.6%. Wells Fargo and Deutsche Bank (along with the Royal Bank of Scotland) have agreed to a settlement of around $165 million to resolve claims that their underwriting of NovaStar Mortgage misled investors. Deutsche Bank is also considering divesting its Indian retail segment to raise capital according to Bloomberg.

139, 100, and 21 top funds that we track were long Bank of America Corp (NYSE:BAC), Wells Fargo & Co (NYSE:WFC), and Deutsche Bank AG (USA) (NYSE:DB) at the end of Q4.

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