Birmingham banks bring home big gains
It was a mixed day on Wall Street on Wednesday but our Birmingham and Alabama Stock Report saw some heavy gainers, especially on the banking side.
Boeing led the way with an 8.7% pickup. The aircraft maker, which has had a presence in Alabama for decades, reported a smaller loss for the spring than analysts expected, and revenue beat forecasts.
ServisFirst and Synovus were not too far behind with 6.6% and 6% gains, respectively. First US Bancshares and Southern States Bancshares saw 3.2% and 3% rises, respectively.
Birmingham-based Medical Properties Trust and ProAssurance Corporation both picked up 2.1%.
Overall, stocks held steady Wednesday after the Federal Reserve raised interest rates to their highest level in more than two decades, just as Wall Street expected.
The S&P 500 slipped 0.71, or less than 0.1%, to 4,566.75, remaining near a 15-month high. The Dow Jones Industrial Average rose 82.05 points, or 0.2%, to 35,520.12, and the Nasdaq composite slipped 17.27, or 0.1%, to 14,127.29.