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Financial Sector Update for 12/16/2015: GNW, NDAQ

Top Financial Shares:

JPM: +1.2%

BAC: +1.3%

WFC: +1.0%

C: +1.2%

USB: flat

Financial shares were mainly higher in pre-market trade on Wednesday as traders looked toward the highly anticipated interest rate decision due to be announced by the Federal Reserve later on Wednesday.

Benchmark interest rates have been unchanged at 0.25% in the US for exactly seven years, however a string of positive economic results, including stellar job reports over the past two consecutive months, and a rhetoric from the Federal Reserve indicating that a rate rise in 2015 is not off the cards have fueled speculation that a hike could be announced at the end of the Federal Open Market Committee Meeting on Wednesday afternoon.

In financial stocks news, Genworth Financial Inc ( GNW ), an insurance provider, said it has named Kevin D. Schneider, who has worked in the company's mortgage insurance business since 2004, as chief operating officer.

Shares in the company were inactive ay $3.80 pre-bell. This is within the lower band of the stock's 52 week trading range between $3.64 and $9.19.

The NASDAQ OMX Group ( NDAQ ), a provider of trading, clearing, exchange technology and regulatory services, said Wednesday that it has appointed Adena Friedman as chief operating officer, effective immediately.

Friedman has been Nasdaq's president since June 2014. Prior to that, she served as chief financial officer and managing director at The Carlyle Group.

Shares in The NASDAQ OMX Group were also unchanged pre-bell at $56.77. This is within the upper band of the stock's 52 week trading range between $44.82 and $60.05.

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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