NEW YORK (
) -- The U.S. financial sector climbed Monday morning on better than
but slid down again in the afternoon.
The Financial Select Sector SPDR
dropped by 4 cents to $14.56 a share by noon.
Banks such as
got a boost from the morning rally. Citigroup's shares were up 7 cents, to $4.18, after Goldman analyst Richard Ramsden said
Credit card sector stocks rallied Monday.
shares were all up on earnings news and reports that credit card companies have been developing new revenue drivers to adjust to new regulations.
American Express' stock was up 45 cents at $39.47 a share, Discover Financial Services' stock was up 17 cents, to $17.58. During the same period Visa's stock was up 50 cents to $79.80 and MasterCard got a $1.35 boost to trade $243.99 a share.
Bank of America
took a hit on news that the bank had discovered errors in
. Bank of America's stock slid 28 cents to $11.14 a share.
Another bank taking a beating Monday was
. Shares slipped $1.03 a share to $7.71 on news that
--Written by Maria Woehr in New York.
To contact the writer of this article, click here:
To follow the writer on Twitter, go to
To submit a news tip, send an email to: