(Updates share prices throughout.)
Financial stocks sagged along with the wider market Thursday, as a stubbornly high unemployment number dampened traders' spirits ahead of the long weekend.
The market traditionally rallies before closing for the Independence Day holiday, but equities sold off almost 2% Thursday and took the financial sector down with it. The NYSE Financial sector index was dropping 3.6% to 3,778 and the KBW Bank Index was off 3% to 35.10.
Bank of America (BAC Quote) and Wells Fargo (WFC Quote) said they would accept warrants issued by California through July 10, as the state wrangles with a budget crisis. The state has been unable to come up with a budget leaving IOU's as an alternative to making payments. While other banks are waiting to make a decision, BofA and Wells said they will temporarily accept the warrants as deposits at its branches. BofA shares were off 3.1% to $12.64 and Wells Fargo stock was giving back 4.4% to $23.08. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,471.58 | 1,108.86 | 2,175.81 | 32.75 |
Oil *
79.69
|
|
UP
126.74
|
UP
13.23
|
UP
31.21
|
UP
0.74
|
10 Yr
3.28%
SPDR Gold
117.38
|
|
+1.23%
|
+1.21%
|
+1.46%
|
+2.31%
|
Data delayed 20 minutes |


Connect with TheStreet