MW: Financials fall after weak jobless claims report
NEW YORK (MarketWatch) -- U.S. financial stocks were down slightly Thursday in morning trade after the U.S. Labor Department reported jobless claims unexpectedly rose for a second consecutive week, which dampened investor expectations after first-quarter U.S. economic output figures were revised upward. The benchmark financial sector exchange-traded fund, Financial Select Sector SPDR Fund (XLF 11.65, +0.04, +0.35%) , was down 0.5% to $11.55. Bank of America Corp. (BAC 12.14, -0.21, -1.71%) fell 2.5% to $12.04 a share despite a company announcement that as a result of debt exchanges and other actions, it will exceed the $33.9 billion capital buffer set by the Federal Reserve.
