Financial Stocks on the Upswing after Manufacturing Report
Friday, July 01, 2021 3:00 PM

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Shares in the financial sector climbed on Friday after the key US ISM manufacturing index showed an unexpected rise in June to 55.3, from 53.5 in May, easing fears of double-dip recession. Economists had projected the index would drop to 52, according to the median forecast in a Bloomberg News survey. Among the gainers were, JPMorgan Chase & Co. (NYSE: JPM) was trading higher by 1.11 percent to $41.14, Goldman Sachs Group Inc. (NYSE: GS) added 1.35 percent to $134.88, Citigroup Inc. (NYSE: C) gained 1.62 percent to $42.32, Wells Fargo & Co. (NYSE: WFC) added 1.53 percent to $28.49, Capital One Financial Corp. (NYSE: COF) was up 1.20 percent to $52.29, and American Express Co. (NYSE: AXP) gained 1.20 percent to $52.32. Shares of Bank of America Corp. (NYSE: BAC) was up 0.41 percent to $11.01 after yesterday’s fall. Among the industries within the sector, the Money Center Banks industry was trading higher by 0.62 percent to 862.49 points, and the Diversified Investments industry added 1.12 percent to 875.60 points today. Among the ETF’s, the Financial Select Sector SPDR Fund (NYSEArca: XLF) added 1.11 percent to $15.52 and iShares Dow Jones US Financial ETF (NYSEArca: IYF) was trading higher by 1.05 percent to $56.93, today.

 

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