NEW YORK (
) -- Bank stocks were in the black for the most part on Thursday, boosted by better than expected economic data.
Financial Select SPDR
was rising modestly mid-morning, up 0.9% to $13.67.
The big four money center banks were all chugging higher led by
, 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
was 486,750, slightly higher than the same figure a week earlier.
shares were rising 2.6% to $7.46,
Marshall & Ilsley
shares jumped 3.4% to $6.48,
Fifth Third Bancorp
shares were up 3.5% to $11.36 and shares of
were rising 2.1% to $6.62.
Still, there were some losers among banks and financial stocks.
shares hit a 52-week-low of $13.18 early Thursday. The shares were most recently trading down 1.1% to $13.35.
shares were also down 0.7% to $24.93.
--Written by Laurie Kulikowski in New York.
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