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Thursday's Bank Stocks: Banks and broader markets up


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Thursday's Bank Stocks: Banks and broader markets up

U.S. bank and thrift stocks, along with broader markets, closed marginally higher Thursday, Dec. 28.

The SNL U.S. Bank Index gained 0.41% to 623.20, and the SNL U.S. Thrift Index ticked up 0.30% to 944.57. The Dow Jones Industrial Average rose 0.26% to 24,837.51, the S&P 500 gained 0.18% to 2,687.54, and the Nasdaq Composite Index increased 0.16% to 6,950.16.

The nation's largest banks ended the day in the green, as Bank of America Corp. grew 0.24% to $29.80, Citigroup Inc. expanded 0.25% to $75.08, JPMorgan Chase & Co. gained 0.53% to $107.79, and Wells Fargo & Co. rose 0.57% to $61.30.

Among notable movers, Eagle Bancorp Inc. added 3.07% to $58.70 and Cadence Bancorp. increased 1.72% to $27.14.

In economic news, U.S. initial claims for unemployment benefits remained unchanged at a seasonally adjusted level of 245,000 for the week ended Dec. 23 from the previous week's unrevised level, according to the Department of Labor.

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