PNC Leads Regional Bank ETFs Higher
Regional bank ETFs outperformed the market Thursday and recovered from the prior day's sell-off, hoisted higher by an earnings surprise from PNC Financial Services Group (PNC). Shares of the fifth largest U.S. bank rallied 13% and gave strength to regional bank ETFs as they bounced off support at their 50-day or 10-week moving averages. PNC broke out of a five-month cup-with-handle base and closed 6% above a 48.88 buy point. After more than
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