Top Financial Shares:
JPM: -0.6%
BAC: -0.6%
WFC: -0.1%
C: -0.8%
USB: -0.3%
Financial shares closed lower on Tuesday after December wholesale inventories ticked down 0.1% to $582 billion from revised November data. This was the third-straight month that inventories declined as companies work through unsold merchandise that's plagued manufacturing for the past year.
In financial stocks news, Legg Mason ( LM ) dropped to the lowest level since late 2012 after the company reported preliminary assets under management (AUM) of $651.5 billion as of January 31, 2016, down from 671.5 million in December 2015.
Shares in the company closed 2.0% lower at $25.93. The company has traded between $25 and $59.19 over the past 52 weeks.
And Barclays ( BCS ) ADRs slumped to the lowest level since April 2009 after the lender announced Paul Compton has been appointed group chief operating Officer.
Shares in the company closed 4.0% lower at $9.14. The company has traded between $8.98 and $18.05 over the past 52 weeks.
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.
