Filed Under: ,
Tickers in this Article: C, MTGE, ECPG, BCA, SLV, COF, KMF
The market is on the rise this morning. The Nasdaq has increased 0.3%; the S&P 500 has moved up 0.3%; and the Dow is trading up 0.3%. 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.

Outperforming the market overall, the Financial sector (XLF) is up 0.5% and its biggest movers so far today are:
CompanyMarket CapPercentage Change
Citigroup (NYSE:C)$101.9 billion+4%
American Capital Mortgage Investment (Nasdaq:MTGE)$887 million-3.4%
Encore Capital Group (Nasdaq:ECPG)$695.1 million+3.1%
Corpbanca Sociedad Anonima (NYSE:BCA)$3.32 billion-2.9%
iShares Silver Trust (NYSE:SLV)$10.66 billion-2.1%
Capital One (NYSE:COF)$33.82 billion-1.8%
Kayne Anderson Midstream Energy Fd (NYSE:KMF)$664.9 million-1.8%
Broker Summary: E-Trade Financial

Citigroup (NYSE:C) is up 4% to reach a current price of $36.15 per share. The company's volume is currently 36.8 million shares for the day, 1.1 times the current daily average.

American Capital Mortgage Investment (Nasdaq:MTGE) has decreased to $23.63 per share, a 3.4% fall. This morning, the company is trading a volume of 2.4 million shares.

Encore Capital Group (Nasdaq:ECPG) is currently trading at $28.90 per share, a 3.1% increase. The company's volume for the day so far is 90,213 shares, 0.7 times its average over the past three months.

After a decline of 2.9%, Corpbanca Sociedad Anonima (NYSE:BCA) has hit a share price of $19.32. So far today, the company's volume is 6,577 shares. At this rate, trading activity will likely be down from yesterday when 26,738 shares changed hands.

Slipping 2.1%, iShares Silver Trust (NYSE:SLV) is currently trading at $31.75 per share. The company's volume is currently 9.8 million shares for the day, 0.9 times the average daily volume.

Currently trading at $57.14 per share, Capital One (NYSE:COF) has fallen 1.8%. So far today, 3.5 million shares have changed hands.

Kayne Anderson Midstream Energy Fd (NYSE:KMF) has fallen 1.8% and is currently trading at $29.94 per share. With 25,910 shares changing hands so far today, the company's volume is 0.4 times the current three-month average.

The Bottom Line The nature of the market is such that stocks will have good days and bad days. It is important to weigh current activity against historical performance when making any investment decisions. Keep in mind that all these ratios should be compared against historical numbers and industry information in order to get a more complete picture.

comments powered by Disqus

Trading Center