The market has been slipping so far today. The Nasdaq has declined 0.3%; the S&P 500 has slipped 0.5%; and the Dow has fallen 0.5%. The financial sector is the category of stocks containing firms that provide financial services to commercial and retail customers. This sector includes banks, investment funds, insurance companies and real estate. Financial services perform best in low interest rate environments. A large portion of this sector generates revenue from mortgages and loans, which gain value as interest rates drop. Furthermore, when the business cycle is in an upswing, the financial sector benefits from additional investments. Improved economic conditions usually lead to more capital projects and increased personal investing. New projects require financing, which usually leads to a larger number of loans.
The Financial sector (XLF) is down 0.4%, underperforming the market overall. The current biggest movers in the sector are:
|Company||Market Cap||Percentage Change|
|Acacia (Nasdaq:ACTG)||$1.2 billion||+3.8%|
|Enstar (Nasdaq:ESGR)||$1.71 billion||+2.6%|
|Banco de Chile (NYSE:BCH)||$13.82 billion||+2.1%|
|Deutsche (NYSE:DB)||$40.71 billion||-2.1%|
|Infinity Property and (Nasdaq:IPCC)||$670.1 million||+1.8%|
|Bank of Nova Scotia (NYSE:BNS)||$69.78 billion||-1.7%|
|Alleghany (NYSE:Y)||$5.59 billion||+1.4%|
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Rising 3.8%, Acacia (Nasdaq:ACTG) is currently trading at $24.92 per share. At 204,842 shares, the company's volume so far today is in keeping with its current three-month average.
Enstar (Nasdaq:ESGR) has risen 2.6% and is currently trading at $105.75 per share. This morning, the company is trading a volume of 10,182 shares.
Banco de Chile (NYSE:BCH) is at $96.18 per share after an increase of 2.1%. So far today, the company's volume is 4,707 shares, in line with the current daily average.
Falling 2.1%, Deutsche (NYSE:DB) is currently at a share price of $43.44. The company's volume is currently 358,595 shares. At this rate, trading activity will likely be down from yesterday when 1.4 million shares changed hands.
Infinity Property and (Nasdaq:IPCC) is up 1.8% to reach a current price of $58.42 per share. So far today, the company's volume is 4,541 shares, 0.1 times the average volume over the last three months.
Bank of Nova Scotia (NYSE:BNS) has fallen 1.7% and is currently trading at $57.84 per share. So far today, 105,371 shares have changed hands.
Alleghany (NYSE:Y) has increased to a share price of $334.52, a 1.4% rise. The company's volume is currently 18,261 shares for the day, 0.3 times the current daily average.
The Bottom Line On any given day, a particular stock may see positive or negative change in its share price. Daily stock performance should be weighed against historical performance and put in context of the market overall. Keep in mind that all these ratios should be compared against historical numbers and industry information in order to get a more complete picture.