PNW

Financial Sector Update for 03/08/2018: PNW

Top Financial Shares:

JPM: +0.3%

BAC: +0.2%

WFC: flat

C: +0.4%

USB: flat

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

On theeconomic calendaris the weekly jobless claims bulletin at 8:30 am ET, then the Census Bureau's tech-oriented Quarterly Services survey at 10 am. Chain-store sales are also scheduled to be reported.

In overseas news, the European Central Bank left official rates unchanged at Thursday's council meeting and also confirmed the current quantitative easing (QE) schedule of EUR30 billion per month that runs until the end of September.

Going forward, the ECB no longer says that QE can be extended in size and/or duration, but merely states that the current schedule can be extended "if necessary" and will run "in any case until the governing Council sees a sustained adjustment in the path of inflation consistent with the inflation aim."

Other news:

- Pinnacle West Capital ( PNW ): upgraded to Outperform by RBC, price target trimmed to $87 from $88

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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