Financial Sector Update for 08/10/2018: NYMT, HBAN

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Top Financial Shares:

JPM: -1.2%

BAC: -1.1%

WFC: -1.9%

C: -1.7%

USB: flat

Financial shares were lower in pre-market trading on Friday.

Turkey risks weighed on confidence after reports that the European Central Bank's supervisory arm has raised concerns about the exposure of European banks to Turkey as the lira crashed to record lows, with US sanctions exacerbating investors' worries about the policies of the Erdogan government.

On the economic calendar is the consumer price index at 8:30 am EDT. Forecasters see the index rising a modest 0.2% in July following only a 0.1% increase in June, according to Econoday. The US Treasury releases its monthly account of the surplus or deficit of the federal government at 2pm EDT.

Expected movers:

- New York Mortgage Trust ( NYMT ): prices 12.5 million share offering at 2.5% discount

- Huntington Bancshares ( HBAN ): to acquire Hutchinson, Shockey, Erley & Co. for undisclosed sum

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: NYMT , HBAN

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