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Midday Tuesday: Stocks rise amid latest economic data

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Midday Tuesday: Stocks rise amid latest economic data

U.S. bank and thrift stocks rose along with broader markets during morning trading Tuesday, Dec. 27.

The SNL U.S. Bank Index was up 0.16% to 540.98, and the SNL U.S. Thrift Index added 0.45% to 971.24 around midday.

The Dow Jones Industrial Average rose 0.10% to 19,953.99, the S&P 500 increased 0.29% to 2,270.37 and the Nasdaq composite index gained 0.64% to 5,497.81.

In economic news, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index posted a 5.6% annual gain in October, extending its all-time high from September. In October, the 10-city composite saw a 4.3% annual increase, and the 20-city composite ticked up 5.1%.

The Conference Board Consumer Confidence Index, after posting a gain in November, increased further in December. The Index now stands at 113.7, up from 109.4 in November. The Expectations Index rose significantly to 105.5 from 94.4, while the Present Situation Index decreased to 126.1 from 132.0.

The nation's biggest banks were mixed around midday. JPMorgan Chase & Co. slid 0.20% to $86.88, Bank of America Corp. increased 0.15% to $22.64, Citigroup Inc. edged 0.36% higher to $61.21 and Wells Fargo & Co. was down 0.05% to $55.93.

Among notable movers in the banking industry, Seacoast Banking Corp. of Florida gained 1.56% to $22.72, and Little Rock, Ark.-based Bank of the Ozarks Inc. rose 1.55% to $54.26.

In the thrift space, Westbury, N.Y.-based New York Community Bancorp Inc. was down 0.09% to $15.77, Lake Success, N.Y.-based Astoria Financial Corp. ticked down 0.22% to $18.51 and San Diego-based BofI Holding Inc. grew 3.63% to $30.00.

Market prices and index values are current as of the time of publication and are subject to change.