Markets

Financial Sector Update for 03/05/2018: XL, CS.PA, HTGC

Top Financial Shares:

JPM: -0.3%

BAC: -0.5%

WFC: flat

C: +0.2%

USB: flat

Financial shares were lower in pre-market trading on Monday, amid a broadly lower market outlook after President Donald Trump spooked global measures with talk of a trade war.

Trump's tweet on Friday that "trade wars are good" was criticized by lawmakers, coming a day after he said he would impose 25% tariffs on steel imports into the US and 10% on aluminum shipments.

On the economic calendar is the PMI services index at 9:45 am ET, followed by the ISM non-manufacturing index at 10 am.

For Federal Reserve watchers, Vice Chairman Randall Quarles speaks at 1:15 pm.

Expected movers:

- XL ( XL ): signs $15.3 billion buyout deal with French insurer AXA (CS.PA)

Other news:

- Hercules Capital ( HTGC ): acquires Gibraltar Business Capital, deal seen as immediately accretive

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.

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