Banks, Defense & AI Creep

Two regional banks’ Q1 earnings reports highlighted the drag higher interest rates are having on results and showed that office building real estate loan defaults may be manageable. Zions and Truist managements struck some optimistic notes about the future on their earnings calls, Jackie reports. And while the S&P 500 Regional Banks industry’s fundamental metrics appear to be improving, its forward P/E remains lower than usual. … Despite rampant geopolitical strife, the S&P 500 Aerospace & Defense industry’s price index has barely risen ytd. Its diverse composition of companies explains why. … And in our Disruptive Technologies segment, five novel ways AI is being employed (would you let ChatGPT plan your wedding?).