Financial Sector Update for 01/03/2020: HSBC, JPM, BAC, WFC, C, USB, CS

Top Financial Stocks:

JPM: -1.84%

BAC: -1.57%

WFC: -1.30%

C: -1.60%

USB: -1.01%

Top financial stocks were lower in pre-bell trading Friday.

Stocks moving on news include:

(-) HSBC Holdings (HSBC), down 2% after saying it will suspend weekend and holiday services of its ATMs in Hong Kong after the machines were targeted by pro-democracy protesters angered at the bank for closing the account of the Spark Alliance fund, a crowdsourcing initiative that supports pro-democracy movements, reports said Friday.

(-) Credit Suisse (CS), was down 3% after saying early on Friday that it approved a share buyback of up to 1.5 billion Swiss Francs ($1.54 billion) in 2020 with the Swiss financial institution expecting to buy back at least 1.0 billion Swiss Francs of shares by the end of the year.

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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