Financials Down as Traders Hedge on Rate View - Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies fell as traders hedged their bets on the outlook for Federal Reserve policy and economic growth.

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Federal Reserve Bank of Philadelphia President Patrick Harker said Friday that the U.S. economy is robust and more interest-rate rises are likely this year. But Treasury yields fell after weak retail-sales data, suggesting traders are skeptical about the outlook for more increases.

In a review of first-quarter earnings commentaries, however, analysts at brokerage Goldman Sachs said that, while many corporations expressed optimism about economic growth, few observed it in their businesses.

(-By Rob Curran, rob.curran@dowjones.com)

(END) Dow Jones Newswires

May 12, 2017 16:38 ET (20:38 GMT)