Markets

Sector Update: Financial Shares Lower on Heavy Data Day

Top Financial Shares:

JPM: -0.28%

BAC: -0.07%

WFC: -0.28%

C: -0.36%

USB: flat

Financial shares were lower in pre-market trade Thursday ahead of several economic reports, including jobless claims that fell to 297,00, the lowest level since May, and as consumers prices rose 0.3% at 19.0 in May.

Investors also await manufacturing data Thursday.

In financial stocks news, Select Income REIT ( SIR ) shares fell in Thursday's pre-market session, after the real-estate investment trust late Wednesday priced a public offering of 9 million common shares at $29 per share, a 4.5% discount to its Wednesday closing price.

SIR was trading below the offering price in recent pre-market trading , down 6% at $28.57, in a 52-week range of $23.79 to $31.47.

Finally, Tiptree Financial ( TIPT ), a New York-based diversified holding company, reported declines in its GAAP net income and Non-GAAP economic net income for Q1 late Thursday.

TIPT closed up 1.3% at $8.50 on Wednesday, extending this year's gains to 16%.

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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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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