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Sector Update: Financial

By: MT Newswires
Posted: 12/30/2013 8:14:00 AM
Referenced Stocks: CME;WFC

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.