Markets

Sector Update: Financial Stocks Paring Earlier Gains; TD Ameritrade Rises After July Trading Volumes Climb 9% Over Year-Ago Levels

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Top Financial Stocks

JPM +0.02%

BAC +0.07%

WFC -0.21%

C -0.03%

USB -0.50%

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 ).

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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