NEW YORK ( TheStreet) -- Regional bank stocks were weak on a slow Friday for trading activity, as is traditional heading into the long Labor Day weekend
First Niagara Financial Group (FNFG) of Buffalo, N.Y., was the loser among large U.S banks, with shares down 1.5% to close at $10.10.
The KBW Bank Index (I:BKX) was down 0.6% to close at 62.20, with all but two of the index components ending lower. Commerce Bancshares (CBSH - Get Report) of Kansas City, Mo., was down 2% close at $43.19. Index components seeing declines of 1% or more included Cullen/Frost Bankers (CFR) of San Antonio, which closed at $70.83; KeyCorp (KEY - Get Report) of Cleveland, closing at $11.67; New York Community Bancorp (NYCB - Get Report), at $14.65, SunTrust (STI - Get Report) of Atlanta, at $32.02; and Zions Bancorporation (ZION - Get Report) of Salt Lake City, with shares closing at $27.97.
Dow Jones Industrial Average
Economic ReportsThe Bureau of Economic Analysis said consumer spending increased by 0.1% during July, down from an upwardly revised 0.6% in June. Economists polled by Thomson Reuters had expected consumer spending to increase by 0.3% during July. U.S. personal income also increased by 0.1% during July, down from 0.3% the previous month and short of the 0.2% expected by economists.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts