Top Financial Stocks
JPM +0.86%
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WFC -0.02%
C +0.43%
USB +0.45
Financial stocks were adding to their prior gains, with the NYSE Financial Sector Index recently adding nearly 0.6% in value while financial companies in the S&P 500 Index were climbing over 0.5% in recent trade.
In company news, MarketAxess Holdings ( MKTX ) declined Wednesday, with shares of the fixed-income trader dropping to a session low of $177.32 a share after reporting a 1.2% drop in its monthly trading volume from the prior month during August and a 9.2% increase compared with year-ago levels.
Volume totaled $114.3 billion during August, down from $115.7 billion in July but increasing from $104.0 million in August 2016. The month-over-month decline during August largely resulted from a nearly $4.7 billion drop in volume for other credit securities to $41.3 billion, although that 10.1% decline was offset by 3.6% increase in volume for fixed-rate high-grade U.S. bonds to $65.39 billion along with a 20.8% rise in floating rate, high-grade U.S. bond to $3.22 billion.
In other sector news,
(+) ZAIS, (+92.3%) Activist investor Christian Zugel proposes negotiating a going-private transaction for the company after yesterday agreeing to buy 6.5 mln shares now held by Famguard LLC, boosting his share to 49.8% of Zais Group stock.
(-) IRT, (-9.5%) Begins public offering of 12.5 mln shares, with a 30-day option to underwriters to buy up to nearly 1.9 mln more shares.
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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.
