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Midday Tuesday: Bank stocks rebound

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Midday Tuesday: Bank stocks rebound

FollowingMonday's negativeclose, bank and thrift stocks moved higher in morning tradingTuesday, Oct. 4.

The SNLU.S. Bank Index increased 1.19% to 416.49 and the SNL U.S. Thrift Index rose0.74% to 827.92. The Dow Jones Industrial Average declined 0.31% to 18,197.9,the S&P 500 edged 0.17% lower to 2,157.47, while the Nasdaq composite indexclimbed 0.04% to 5,303.13.

In economicnews, U.S. home prices, including distressed sales, were year over year in August,according to CoreLogic's latest home price index. Compared to July, homeprices, including distressed sales, increased 1.1%.

Thenation's four largest banks were trading higher — was up 0.10% to$43.88, JPMorgan Chase &Co. advanced 1.30% to $66.89, Citigroup Inc. improved 2.47% to $48.19, and gained 2.24%to $15.98.

Among priceleaders, Santa Clara, Calif.-based SVB Financial Group rose 3.57% to $113.33; NewOrleans-based First NBC BankHolding Co. was up 13.48% to $11.28 around midday; and Little Rock,Ark.-based Bank of the OzarksInc. climbed 3.16% to $39.19.

In thethrift space, Astoria FinancialCorp. increased 1.25% to $14.61, New York Community Bancorp Inc. added 1.24% to $14.23,and BofI Holding Inc.jumped 3.78% to $22.52.

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