Sector Update: Financial Shares Weighed Into Close of First Half of 2014


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Top Financial Shares:

JPM: -0.05%

BAC: -0.33%

WFC: -0.38%

C: -0.30%

USB: flat

Financial shares were heavy in pre-market trade Monday, retreating toward the close of the first half of the year.

In financial stocks news, Blackstone ( BX ) is planning to launch a new hedge fund, with a few teams of traders, likely in the fall, according to several reports.

Reports said the investment management firm, in a move to rival other largest firms in the industry, is now in final discussions with the first teams of traders to "place a relatively small number of large, highly concentrated wagers."

BX closed at $33.46 on Friday.

And, Rexford Industrial ( REXR ) Monday said it has bought a portfolio of industrial properties totaling 817,166 square feet for $88.5 million. Eight of the nine properties are 96% leased and the remaining property is 40% leased. The properties are located within Los Angeles County, Orange County and San Diego County.

Shares in the real estate investment trust last touched $14.21 on Friday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: BX , REXR

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