Markets
ARE

Financial Sector Update for 01/04/2018: CNET,GNW,ARE

Top Financial Stocks

INANCIAL -

JPM +1.96%

BAC +1.58%

WFC +1.68%

C +1.69%

USB +1.27%

Financial stocks have eased slightly from their earlier gains, with the NYSE Financial Sector Index rising almost 0.8% this afternoon while financial companies in the S&P 500 Index have jumped out to a nearly 1.1% gain. Elsewhere, the Philadelphia Housing Sector Index was down more than 0.7%.

In economic news:

Data from payroll processor ADP showed private sector employers added 250,000 new jobs during December, improving on a downwardly revised 185,000 jobs in November and beating market expectations for a rise of around 190,000 new hires. Also, the Labor Department said initial jobless claims unexpectedly inched higher during the week ended Dec. 30, climbing by 3,000 claimants compared with the prior week to 250,000 first-time claims. Expert opinion had been looking for 240,000 claims last week.

Among financial stocks moving on news today:

+ ChinaNet Online Holdings ( CNET ) shares more than tripled in value on Thursday, climbing more than 230% to a 33-month high of $3.87 a share, after the one-time online-advertising company overnight said it was partnering with Wuxi Jingtum Network Technology to expand into the blockchain industry and its related technology and creating a "credible, fair and transparent platform for business opportunities and transactions."

In other sector news:

+ Genworth Financial Inc ( GNW ) rose more than 4% on Thursday after the insurer withdrew its joint voluntary notice to the Committee on Foreign Investment in the United States for its proposed merger with China Oceanwide. The companies are expecting to later refile their application with the review panel after first revising those documents to better protect the personal data of Genworth policyholders.

- Alexandria Real Estate Equities ( ARE ) declined after the real estate investment trust priced a $741 mln public offering of 6 mln shares at $123.50 apiece, a 5% discount to Wednesday's closing price.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ARE GNW CNET

Other Topics

Banking

Latest Markets Videos