Financial Sector Update for 08/29/2019: AMK, JPM, BAC, WFC, C, USB, TD, NOAH

Top Financial Stocks:

JPM: +2.57%

BAC: +2.12%

WFC: +1.72%

C: +2.76%

USB: +1.62%

Financial stocks continue its climb as the market nears closing, with a 1.2% rise for the NYSE Financial Index, while shares of financial companies in the S&P 500 were rising about 1.6%. The Philadelphia Housing Index was rising 1%.

Financial stocks moving on news include:

(+) AssetMark Financial Holdings (AMK), which was up 3% after posting Q2 adjusted net income of $0.25 per share, beating the average estimate of $0.23 per share compiled by Capital IQ.

In other sector news:

(+) Toronto Dominion Bank (TD) was slightly higher as it reported fiscal Q3 adjusted earnings of C$1.79 ($1.35) per share, up from C$1.66 per share in the same period a year ago, but just shy of the C$1.80 estimate from analysts polled by Capital IQ.

(+) Noah Holdings (NOAH) was up slightly after saying its Q2 non-GAAP earnings were RMB4.25 per ADS, or $0.59, rising from RMB4.12 per ADS a year ago amid higher net revenue in the period.

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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