Financials Keep Market from Plunging Even Deeper By

  • 9 months ago
  • news
  • 1

© Reuters.

By Christiana Sciaudone — Consumers are back. Enough anyway to keep financials afloat while the rest of the market tumbles. 

Following on Friday, Capital One Financial Corporation (NYSE:) rose 3.6%, the biggest mover among peers and reaching the highest level since June. Discover Financial Services (NYSE:) rose 2.3%, while Synchrony Financial (NYSE:) increased 1.9%.

The August payroll report showed an increase of 1.37 million jobs, while the unemployment rate fell to 8.4%, the lowest since March, according to Labor Department figures. 

The financial sector rallied to its 200-day moving average at the start of the session, with the payrolls report pointing to the restoration of some consumption power, helping to keep purveyors of credit services, regional banks, and money center banks in the green while some insurers, investment banks, and providers of market data are on the defensive, said.   

AIG (NYSE:) was up 0.6%, JPMorgan (NYSE:) rose 0.8% and Travelers (NYSE:) increased 0.7%.


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source by [author_name]

Compare listings