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Financial Sector Update for 05/06/2019: C, GS, WFC, JPM, BAC, USB

Top Financial Stocks:

JPM: -1.36%

BAC: -2.02%

WFC: -1.52%

C: -2.28%

USB: -2.19%

Shares of major Financial companies were retreating Pre-bell Monday.

In other sector news:

(-) Citigroup (C) has formed a Markets Acceleration Lab aimed at teaching traders how to code and making sure coders know how to trade, Bloomberg News reported. Citigroup was recently down more than 2%.

(-) Goldman Sachs (GS) was almost 2% lower after the Financial Times reported that the company has delayed the launch of its Marcus consumer banking unit in Germany until next year because of cost constraints and the delayed departure of the UK from the European Union.

(-) Wells Fargo & Co. (WFC) was declining more than 1% after saying it may have to pay up to $3.1 billion to resolve legal matters as of March 31, up from a $2.7 billion estimate on Dec. 31, 2018.

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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