Financial Shares Down as Traders Bet Fed Outlook Unchanged - Financials Roundup

Features Dow Jones Newswires

Shares of banks, lenders and other financial firms fell slightly as traders bet strong April jobs data left the Federal Reserve outlook unchanged. Federal Reserve Chairwoman Janet Yellen has said the central bank considered a spell of uneven data as a transitory event and was still on track with its plans to hike rates later this year. While a strong jobs report typically increases the odds of an increase, this time around it made little difference: Treasury yields, which many bank lending rates use as benchmarks, were mixed in the wake of the jobs report.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 05, 2017 16:32 ET (20:32 GMT)