Sector Update: Financial
Financial shares are flat to lower in today's pre-market session ahead of the pending home sales report from the National Association of Realtors.
In financial stocks news, Wells Fargo ( WFC ) has been ordered by an arbitration panel to buy back about $94 million in auction-rate securities from investors at par value, Reuters reported late Friday. The bank was accused of fraud, negligence and breach of fiduciary duty on municipal-auction rate securities, or MARS.
WFC is steady at $45.50 in pre-market trade with a 52-week range of $33.71 to $45.64.
And, CME Group ( CME ) stock has been reiterated at a Buy at Bernstein. The stock is up about 56% this year. CME is steady at $78.91 in pre-market trade.