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Midday Friday: Big bank stocks rise

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Midday Friday: Big bank stocks rise

Large-cap bank stocks were trading in the positive territory around Friday noon, Aug. 4.

Bank of America Corp. rose 2.59% to $25.00, Citigroup Inc. added 1.66% to $69.26, JPMorgan Chase & Co. rose 1.95% to $94.30, and Wells Fargo & Co. increased 0.30% to $53.56.

Broader markets were up during the first half of Friday's trading. The Dow Jones Industrial Average ticked up 0.09% to 22,045.62, the Nasdaq Composite Index improved 0.30% to 6,359.30, and the S&P 500 gained 0.17% to 2,476.44.

The SNL U.S. Bank Index climbed 1.44% to 560.94 and the SNL U.S. Thrift Index added 0.40% to 903.69.

Among notable price gainers, SVB Financial Group improved 2.73% to $186.40, East West Bancorp Inc. increased 2.28% to $58.27, and Fifth Third Bancorp gained 1.78% to $27.38.

In the thrift space, Astoria Financial Corp. was up 0.40% to $20.08 and BofI Holding Inc. lost 2.03% to $26.95.

In economic news, nonfarm payroll employment in the U.S. was up by 209,000 in July, and the unemployment rate fell to 4.3% from 4.4% in the previous month.

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