Financials Gain, Oaktree Falls In Trading Debut
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) [...]

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, gaining 1.7% in morning trading.

Oaktree Capital, which began trading on the New York Stock Exchange today under the ticker OAK was falling 3.7% in recent trading, to $41.43. The company had a disappointing IPO yesterday: As Bloomberg reports,  the debt-focused private equity firm raised 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.

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