U.S. bank and thrift stocks retreated, while broader markets climbed, around noon Wednesday, Oct. 4.
The SNL U.S. Bank Index fell 0.20% to 578.29 and the SNL U.S. Thrift Index was down 0.16% to 943.31. The Dow Jones Industrial Average climbed 0.14% to 22,672.29, the S&P 500 added 0.08% to 2,536.61 and the Nasdaq Composite Index ticked up 0.05% to 6,534.89.
Wells Fargo & Co. was down 1.04% to $55.00. The company is planning to refund customers who were improperly charged for mortgage rate lock extensions from September 2013 through February.
JPMorgan Chase & Co. dropped 0.34% to $97.03, Bank of America Corp. slipped 0.12% to $25.83, while Citigroup Inc. increased 0.69% to $74.64.
Among notable price movers, PacWest Bancorp retreated 2.10% to $48.88.
In the thrift space, BofI Holding Inc. climbed 0.96% to $28.44.
In economic news, U.S. private-sector employment was up by 135,000 jobs in September from the previous month, according to the latest ADP National Employment Report.
Following a 0.5% drop in the week before, the U.S. mortgage applications again fell 0.4% on a seasonally adjusted basis for the week ended Sept. 29, according to the Mortgage Bankers Association.
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