Financials were mostly higher Thursday, with the Financial Select Sector SPDR tracker ETF (XLF) adding 0.8%.
JPMorgan (JPM) was also moving up 0.8% ahead of its earnings report Friday, which will kick off earnings season for the sector. Wells Fargo (WFC), which will report tomorrow as well, was up just 0.1%. Bank of America (BAC) led the pack, gainingÂ 1.7% in morning trading.
Oaktree Capital, which began trading on the New York Stock Exchange todayÂ under the ticker OAK was falling 3.7% in recent trading, to $41.43. The company had a disappointing IPO yesterday: As Bloomberg reports,Â Â the debt-focusedÂ private equity firmÂ raisedÂ about $380.2 million, or 27% less than expected. The IPO was priced at $43 a share, at the low end of its range of $43 to $46 a share. The response raises questions about investors’ appetite for such stocks ahead of the upcoming IPO for Carlyle Group.