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Thursday's Bank Stocks: Markets extend gains for the week


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Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


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Thursday's Bank Stocks: Markets extend gains for the week

Equities traded up May 10, extending a multi-day streak of gains in trading for the week.

The Dow Jones Industrial Average added 0.80% to 24,739.53, the Nasdaq Composite Index increased 0.89% to 7,404.97 and the S&P 500 rose 0.94% to 2,723.07. Only the S&P 500 closed a single day this week in the red, when it slipped 0.03% to finish Tuesday, May 8.

Banks similarly traded up. At the big four, JPMorgan Chase & Co. gained 0.78% to $114.29, Bank of America Corp. ticked up 0.55% to $30.89, Citigroup Inc. increased 0.86% to $72.57 and Wells Fargo & Co. added 1.66% to $54.65.

New York Community Bancorp Inc. ticked up 0.26% to $11.72.

Two Los Angeles-based banks made notable movements in trading. OP Bancorp increased 4.18% to $12.20 and RBB Bancorp added 2.71% to $28.02.

In the South, two banks decreased in trading shortly after launching initial public offerings. Conroe, Texas-based Spirit of Texas Bancshares Inc. slipped 3.45% to $21.30, one day after it said it sold 2.3 million common shares. Ruston, La.-based Origin Bancorp Inc. decreased 2.03% to $36.74 as it announced it closed on an offering of 4,181,602 common shares.

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