Financial Sector Update for 02/24/2020: BCS, MA, HSBC, JPM, BAC, WFC, C, USB

Top Financial Stocks:

JPM: -3.84%

BAC: -4.25%

WFC: -2.43%

C: -4.19%

USB: -3.06%

Financial heavyweights were trading lower pre-market Monday.

Early movers include:

(-) Barclays (BCS), which was declining by more than 6% after the Financial Times, citing sources, reported that the company is planning to initiate the search for a new chief executive after Jes Staley expressed his intentions to step down from the top job by the end of 2021.

(-) Mastercard (MA) is planning to hire an additional 1,500 employees to boost operations at its European Technology Hub in Dublin, Ireland, the country's foreign direct investment agency IDA said. Mastercard was down more than 6% in recent trading.

(-) Jean-Pierre Mustier has agreed to stay on as chief executive of UniCredit, ending weeks of speculation that he will leave the Italian lender and assume the leadership role at HSBC (HSBC), media reported. HSBC was nearly 3% lower recently.

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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