Financials Flat Ahead Of Jackson Hole Speeches -- Financials Roundup
Banks, lenders and other financial companies was more or less flat as traders awaited speeches from Federal Reserve Chairwoman Janet Yellen and European Central Bank President Mario Draghi.
Joe Kinahan, chief market strategist with TD Ameritrade, does not anticipate a drastic change of tone from Ms. Yellen in her speech. Weakness in recent housing data could change the rate outlook between now and the next Fed meeting, however, Mr. Kinahan said, in a blog item.
"One question is how the relatively weak housing numbers might ultimately play into the government's estimates for economic growth," Mr. Kinahan wrote. "Next Wednesday's GDP number could work its way into the Fed's thinking as it considers next steps on rate hikes and balance sheet unwinding." Toronto bank CIBC said its quarterly earnings fell to 1.1 billion Canadian dollars ($880 million) from C$1.44 billion.
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
August 24, 2017 16:44 ET (20:44 GMT)