Happy Wednesday! Volatility may be rocking the markets, but some banks are turning chaos into opportunity thanks to strong earnings. Read on to see which ones are leading the charge. Also, discover this week’s Under The Radar pick! 

— Justin Giles

Plus, if you’re tired of second-guessing your trades and want to start trading with clarity, don’t miss today’s sponsor and their free guide.

MARKET RECAP

Yesterday: Stocks rose sharply Tuesday, led by strong gains in financial and consumer discretionary sectors, as investors embraced a risk-on sentiment. Bond yields declined, with the 10-year Treasury yield falling to 4.40%, while the U.S. dollar strengthened against major currencies. Oil prices moved higher after the U.S. announced sanctions on Iranian crude. European equities also ended the day higher, buoyed by comments from ECB President Christine Lagarde suggesting that disinflation in the region is nearing completion, while Asian markets finished mixed. Attention turns to earnings with the bulk of companies reporting over the next two weeks. So far, 16% of S&P 500 companies have reported earnings, with 76% of those exceeding analyst expectations.

On Our Radar: Markets will be closely watching a slate of Fed speakers throughout the day, alongside key data on new home sales and the latest S&P flash PMIs. The Fed’s Beige Book, due in the afternoon, will also offer fresh insight into economic conditions ahead of the next policy meeting. On the earnings front, Alaska Air, ServiceNow, and Texas Instruments headline a slate of companies that will report results after market close today.

TOP STORY

4 Bank Stocks To Buy As Earnings Soar

As markets reel from tariff tensions and volatility spikes, a surprising group of winners are emerging from all the chaos — and it’s not who you’d likely expect. Four banks are turning turmoil into treasures with impressive earnings and strong dividends.

Dive into the full story to see which banks are leading the charge — and which ones could be the smartest plays in a choppy market.

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FIVE ZINGERS

Musk Pivot: Elon Musk is shifting focus back to Tesla, cutting government work to just one or two days a week in May. Find out why this pivot could be the turning point investors have been waiting for — and what it means for the stock.

Cloud Surge: SAP is soaring after smashing Q1 expectations, with cloud revenue up 27% and operating profit surging 60%. Read the full story to see what’s fueling the momentum.

Browser Battle: OpenAI may be gearing up to snatch Chrome if Google is forced to sell amid a high-stakes DOJ antitrust trial. Discover how this could shake up Big Tech and why Sam Altman is eyeing a major leap in search dominance.

Market Mismatch: Despite the IMF hiking U.S. recession odds to 40%, Polymarket traders are dialing back their bets as stocks and Bitcoin surge. Could the crowd be seeing something the experts aren’t? Click to explore what it could mean for your portfolio.

Meme Momentum: In a stunning market twist, Fartcoin has exploded 121% in a month, outperforming Bitcoin and Dogecoin. With investor interest surging, click here to see if this meme-fueled rocket has more gas left in the tank.

SPECIAL OFFER

Under the Radar: Low Expectations And High Yields Set These Stocks Apart

Editor’s Note: Every Tuesday, Benzinga Edge members receive the Under the Radar pick, detailing a very profitable stock or market trend that no one else is talking about. Here’s a sneak peek:

Let me tell you a little secret the Wall Street crowd would rather you not know. You can still buy a dollar at a discount in this market. I'm not talking about some speculative biotech name or the latest AI flavor of the month.

I'm talking about closed-end funds—yes, those sleepy little investment vehicles that most of the market has forgotten about but that savvy deep value and income investors have been quietly exploiting for over a century.

Let's not kid ourselves: this game isn't about hoping the market rediscovers value on its own. It usually happens, but while I am patient, if I can hurry things along, I am all for it. This is where the Activists come in.

Investors like Phil Goldstein at Bulldog Investors and Boaz Weinstein at Saba Capital. These folks don't sit around waiting. They buy big chunks of these discounted funds, then go to war with the board of directors. Tender offers, liquidations, open-ending—whatever it takes to unlock that NAV and collect the payoff.

Goldstein, the godfather of CEF activism, has been doing this since the ’90s. The Swiss Helvetia Fund was his latest trophy. That fund was trading 20% below NAV until Bulldog muscled in, took control, and announced a special distribution equal to 30% of NAV. Meanwhile, Saba is the new king of the hill.

Let me be clear: this is not a strategy for index huggers or closet beta chasers. You need to be willing to dig through the filings, read the 13Ds, and understand the governance.

But if you do the work—or if you just follow those of us who do—you can consistently buy assets below value and get paid handsomely to wait for the market to catch up or the activists to blow it up.

Get all the details from yesterday’s Benzinga Edge-exclusive Under the Radar report. Click here to access it now.

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