Top Financial Stocks
Financial stocks were narrowly higher today with the NYSE Financial Sector Index rising about 0.2% and the S&P Financial 100 Index also climbing about 0.2%.
In company news, TD Ameritrade ( AMTD ) was enjoying a moderate bounce during Monday's trading and the online broker reporting a 9% year over year rise in daily trading volume during July to an average of 405,000 client trades per day.
It also said client assets grew 18% over year-ago levels to $644.4 billion, although that was down about 1% over June 2014 levels. Average fee-based balances were up 19% on annual basis to $143.5 billion.
AMTD shares were up slightly nearly 2% at $32.66 in late trade at $32.77 a share, easing somewhat from its session high at $32.79 a share. The stock has traded within a 52-week range of 24.76 to $38.81 a share, climbing about 23.5% over the past 12 months.
In other sector news,
(+) HGSH, Hired by local government officials in Hanzhong City, China, to rebuild two large-scale shanty areas. The projects have a combined budget of at least $1.3 bln.
(-) Z, Weekend Barron's article argues against the company's proposed $3.5 bln buyout of rival real estate website Trulia ( TRLA ).
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