The Nasdaq is down 0.5%, the S&P 500 is trading down 0.2% and the Dow has slipped 0.2%, marking a bad morning for the market. 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 up 0.4% on a bad day for the market overall. The biggest movers in the sector are currently:
|Company||Market Cap||Percentage Change|
|Walker & Dunlop (NYSE:WD)||$541.1 million||+6.8%|
|Employers Holdings (NYSE:EIG)||$543.8 million||+6.2%|
|Primerica (NYSE:PRI)||$1.64 billion||+3.8%|
|Shinhan Financial Group Co., Ltd (NYSE:SHG)||$8.04 billion||-3.5%|
|Credit (Nasdaq:CACC)||$2.03 billion||+2.9%|
|Prudential (NYSE:PRU)||$25.81 billion||-2.8%|
|Credicorp Ltd (NYSE:BAP)||$10.38 billion||+2.4%|
Forex Broker Summary: Forex Capital Markets (FXCM)
Walker & Dunlop (NYSE:WD) has moved up 6.8% and is currently trading at $16.72 per share. The company's volume is currently 172,546 shares for the day, 2.7 times the current daily average.
Rising 6.2%, Employers Holdings (NYSE:EIG) is currently trading at $18.74 per share. So far today, 30,069 shares have changed hands.
Primerica (NYSE:PRI) has risen 3.8% to hit a current price of $28.58 per share. So far today, 81,019 shares have changed hands, consistent with the volume from yesterday which is likely to result in less activity than yesterday's volume of 163,684 shares.
Falling 3.5%, Shinhan Financial Group Co., Ltd (NYSE:SHG) is currently at a share price of $32.72. This morning, the company is trading a volume of 49,311 shares. This is 1.2 times its average volume over the past three months.
Credit (Nasdaq:CACC) is up 2.9% to reach a current price of $85.14 per share. At 9,771 shares, the company's volume so far today is 0.3 times the average daily volume.
Currently trading at $53.86 per share, Prudential (NYSE:PRU) has fallen 2.8%. So far today, the company's volume is 2.2 million shares.
After an increase of 2.4%, Credicorp Ltd (NYSE:BAP) has reached a current price of $133.30. The company's volume is currently 165,965 shares for the day,.
The Bottom Line On any given day, a particular stock may see positive or negative change in its share price. 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.