Opening Glance: Diversified financials mostly decline
NEW YORK—Diversified financial-services stocks mostly declined on Wednesday morning, as investors anticipated that the Federal Reserve will cut its benchmark federal funds rate by a quarter-point but will also signal a hold on further reductions.
Wall Street also weighed a Commerce Department report showing that the country's economic growth in January through March was the same as in the final three months of 2007. Many analysts expected a slightly worse performance.
How some diversified financial companies were performing Wednesday morning:
JPMorgan Chase & Co., up 21 cents to $47.29.
Bank of America Corp., down 2 cents to $37.84.
CIT Group Inc., down 10 cents to $10.81.
Citigroup, down 64 cents, or 2.4 percent, to $25.68.
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