Wells Fargo: Financial Winners & Losers

Regional bank stocks received a boost Thursday from better than expected weekly jobless claims.
Author:
Publish date:

NEW YORK (

TheStreet

) -- Bank stocks were in the black for the most part on Thursday, boosted by better than expected economic data.

The

Financial Select SPDR

(XLF) - Get Report

was rising modestly mid-morning, up 0.9% to $13.67.

The big four money center banks were all chugging higher led by

Wells Fargo

(WFC) - Get Report

, up 1.7% to $24.01. Large and midsize regional bank stocks seemed to be getting a boost during morning trading.

According to the

U.S. Labor Department

, initial claims for unemployment insurance for the week ending Aug. 21 fell 31,000 from the prior week. The Labor Department said the four-week moving average of

jobless claims

was 486,750, slightly higher than the same figure a week earlier.

Shares of

KeyCorp

(KEY) - Get Report

shares were rising 2.6% to $7.46,

Marshall & Ilsley

(MI)

shares jumped 3.4% to $6.48,

Fifth Third Bancorp

(FITB) - Get Report

shares were up 3.5% to $11.36 and shares of

Regions Financial

(RF) - Get Report

were rising 2.1% to $6.62.

Still, there were some losers among banks and financial stocks.

Charles Schwab

(SCHW) - Get Report

shares hit a 52-week-low of $13.18 early Thursday. The shares were most recently trading down 1.1% to $13.35.

Morgan Stanley

(MS) - Get Report

shares were also down 0.7% to $24.93.

--Written by Laurie Kulikowski in New York.

To contact the writer of this article, click here:

Laurie Kulikowski

.

>To submit a news tip, send an email to:

tips@thestreet.com

.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.