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Financial Sector Update for 01/03/2017: DB, BX, JPM, BAC, WFC, C, USB

Top Financial Shares:

JPM: +1.6%

BAC: +2.5%

WFC: +1.4%

C: +1.6%

USB: +1.4%

Financial shares were higher in pre-market trade Tuesday, spurred by rallying crude oil, as traders anticipate the effect of a deal between OPEC and other major oil products to curb production, which became effective on Sunday.

In financial stocks news, Blackstone ( BX ) was up 1% after it said that private equity funds affiliated with Blackstone agreed to acquire Tradesmen International, a provider of outsourced skilled craftsmen, from Wellspring Capital Management. Financial terms of the transaction were not disclosed. The transaction is expected to close in Q1.

And, financial services company Cantor Fitzgerald said it has hired former Deutsche Bank ( DB ) Co-Chief Executive Anshu Jain as president. The firm said in a statement on Monday that Jain will work with Cantor CEO Howard Lutnick to "build on Cantor Fitzgerald's strong client-focused business foundation and drive the firm's momentum as it enters the next phase of growth." DB shares were up 2.4%.

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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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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