Financials Higher After Fed Statement - Financials Roundup

Banks, lenders and other financial companies rose after the Federal Reserve indicated that it remained on track for a June rate hike. The Fed acknowledged weakness in some recent economic data, but said slow growth earlier in the year was "likely to be transitory." One brokerage said Friday's jobs data for April could be decisive in the Fed's thinking on its June policy statement. On Wednesday, the Fed "did not send a strong signal in either direction regarding the future path of hikes," said analysts at brokerage Bank of America Merrill Lynch Global Research. "At this point, it seems that the consensus on the Fed is to look past some of the recent weak data...Strong readings on [April] indicators will likely leave the Fed feeling more comfortable with delivering a hike at the June meeting." Exchange operator Intercontinental Exchange said its transaction-based revenue fall in the latest quarter, even as revenue in its data and listing units improved.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 03, 2017 16:43 ET (20:43 GMT)