Sector Update: Financial Shares Up; Economy Adds 169,000 Jobs, Less Than Expected
Top Financial Shares:
Financial shares are up as the U.S. Labor Department reports the economy added 169,000 jobs in August as the unemployment rate dropped to 7.3% to 7.4%.
Prior to the report, Federal Reserve President Charles Evans hinted that the Fed could begin increasing interest rates in 2015 as unemployment falls below 6.5%.
In financial stocks news, Goldman Sachs ( GS ) may sell a majority stake in Rothesay Life with Blackstone ( BX ) and Singapore sovereign wealth fund GIC, the Financial Times reports GS shares are up 0.15% at $156.40.