Washington’s brinkmanship over the country’s debt ceiling continues for another day.
wasn't as hopeful
In short, the back-and-forth tussle remains. "It's kind of a waiting game," said Globalt Investments' Keith Buchanan. "Each day that goes by, and each postponement, each day there's not a development … I think it will grow more and more difficult for the markets to really get any traction." We see the same pattern of positive moves on low trading volume in regional bank stocks. For instance, Zions Bancorp jumped 8.5% and Comerica climbed 7.3%, though their trading volume was below their 30-day average. That's not necessarily a bad thing, of course — any gains in regional bank stocks will be welcome news, amid uncertainty in the sector.
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