Financial Sector Update for 03/01/2018: AFSI, EPR, FISI

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Top Financial Shares:

JPM: +0.2%

BAC: +0.1%

WFC: -0.4%

C: flat

USB: flat

Financial shares were lower in pre-market trading on Thursday, with Wall Street digesting a slew of economic data. Consumer spending in January rose a scant 0.2%; personal incomes rose 0.4% while aftertax incomes surged to its largest gain since 2012 following the new tax reform law.

Next, US jobless claims fell by 10,000 to 210,000 in the week ended Feb. 24 -- the lowest level since 1969. Forecasts were for claims to total 226,000. Continuing claims increased by 57,000 to 1.93 million.

And, the Federal Reserve's preferred PCE inflation index surged 0.4% in January. The so-called core PCE which strips out food and energy climbed 0.3%, matching an increase a year ago.

Expected movers:

- AmTrust Financial Services ( AFSI ) agrees to be bought by Stone Point Capital, Karfunkel family and CEO for $13.50 per share cash

- EPR Properties ( EPR ) reports Q4 results that miss Street view; cuts FY18 forecast

Other news:

- Financial Institutions ( FISI ) said late Wednesday the board has approved a 9.1% increase in the quarterly dividend to $0.24 per common share

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 , Banking and loans
Referenced Symbols: EPR , FISI

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