Financials Down Ahead of Earnings -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies ticked down amid nervousness about earnings reports.

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"Financials are going to have it tough still this quarter," said Oliver Pursche, chief market strategist at broker dealer Bruderman Brothers. "Trading revenue has come down across the board for everyone...and you haven't seen sufficient movement in interest rates to move the needle on lending."

The Federal Reserve minutes suggested the central bank would raise rates again this year, despite mixed economic data. Some officials raised concerns about inflation data and advocated patience on any rate decisions.

BlackRock, the world's largest investment managers, posted an increase in quarterly profit, as its funds were boosted by the flow of investor money and market appreciation. Inflows to exchange-traded fund have swelled BlackRock's assets under management to roughly $6 trillion.

The International Monetary Fund named nine financial institutions, including Citigroup, Societe Generale and Deutsche Bank--as being likely to deliver subpar profits.

-Rob Curran, rob.curran@dowjones.com

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(END) Dow Jones Newswires

October 11, 2017 16:43 ET (20:43 GMT)