Financial Stocks Rise Led by Visa, MasterCard
Tuesday, June 28, 2021 2:54 PM

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Financial sector was trading mostly higher, led by credit card firms, including Visa and MasterCard. However, bank stocks fell, pressured by concerns over whether Greece’s parliament will approve certain austerity measures that are critical to its acceptance of a debt-assistance package backed by the European Union and International Monetary Fund. Shares of Visa Inc. ((NYSE: V) rose 1.91 percent to $75.30, MasterCard inc. (NYSE: MA) gained 1.94 percent to $277.89 after analysts at Jefferies initiated coverage of the two firms with a buy rating. Among other gainers in the sector were, Capital One Financial Corp. (NYSE: COF) adding 1.22 percent to $51.38, American Express Co. (NYSE: AXP) gaining 0.83 percent to $49.95. Shares of Discover Financial Services (NYSE: DFS) surged 3.11 percent to $26, after analysts at Friedman Billings Ramsey raised their price target on the shares to $30 from $25. Among the decliners were, JPMorgan Chase & Co. (NYSE: JPM) down 1.12 percent to $39.44, Bank of America Corp. (NYSE: BAC) trading lower by 0.41 percent to $10.81, and Goldman Sachs Group Inc.(NYSE: GS) down 0.96 percent to $129.47. Among the ETF’s, the Financial Select Sector SPDR Fund (NYSEArca: XLF) added 0.34 percent to $14.96 and iShares Dow Jones US Financial ETF (NYSEArca: IYF) was trading higher by 0.31 percent to $54.84, today.


 

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