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发帖数: 5997 | 1 【 以下文字转载自 Chinook 俱乐部 】
发信人: yaokarl (大象), 信区: Chinook
标 题: Financials Slide On Euro Debt Woes, WFC Earnings; Citi Still Up
发信站: BBS 未名空间站 (Mon Oct 17 09:01:19 2011, 美东)
http://blogs.barrons.com/focusonfunds/2011/10/17/financials-sli
October 17, 2011, 8:55 AM ET.
By Murray Coleman
Broader markets are losing some steam this morning ahead of the opening bell
after Germany cautioned that leaders had no quick fix to the European
sovereign debt crisis. Also, The SPDR S&P 500 (SPY) was pointing down 0.3%
as the DAX in Germany was trading 0.4% lower and the CAC 40 in France was
off by o.1%.
Also, the Empire State manufacturing index increased only slightly in
October and remained in negative territory for the fifth straight month, the
New York Federal Reserve Bank said Monday.
Financials were holding slight gains before the manufacturing report. The
diversified Financials Select Sector SPDR (XLF) was up 0.2% before the data;
it’s now down 0.8% ahead of the opening bell.
One bright spot remains Citigroup (C). Its shares initially rose 2.7% after
the bank reported higher third-quarter net income on Monday as a $1.9
billion accounting gain reduced the impact of losses in investment banking
and lower trading.
Citi’s stock was most recently trading higher by 1.7%.
Meanwhile, Wells Fargo (WFC) said its Q3 profit rose 21% to $4.1 billion,
or 72 cents a share, from $3.34 billion, or 60 cents a share, in the year-
ago period as expenses fell. At the same time, the San Francisco-based firm
also said that Q3 revenue fell to $19.6 billion from $20.9 billion.
WFC’s shares were extending their losses, down 4.3%. The SPDR KBW Bank ETF
(KBE), which had been pointing higher by 0.7% earlier, was recently flat.
The pullback by stocks came after statements by a spokesman for German
Chancellor Angela Merkel that warned investors not to expect an upcoming
summit of European leaders to produce a comprehensive fix to the crisis.
Expectations that euro zone finance ministers were close to a deal had grown
over weekend with the Group of 20 meeting in Paris, where global finance
leaders reiterated the importance of solving the crisis decisively and
quickly. |
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