While biotechnology stocks are turning in the market's best performances in late-morning trading on Friday, notable strength is also visible among brokerage stocks. The sector has jumped in today's session following a recent steady advance.
The strength in the brokerage sector is reflected by 1.7 percent gain currently being shown by the NYSE Arca Securities Broker/Dealer Index. The index has trended higher for much of the past month and has reached its best intraday level in six weeks.
TD Ameritrade Holding Corp. (AMTD) is helping to lead the sector higher, with shares of the trading firm currently up 3.8 percent. Despite the advance, the stock has remained rangebound.
Ameriprise Financial Inc. (AMP) and Goldman Sachs Group Inc. (GS) are also posting strong gains, rising by 3.1 percent and 2.1 percent, respectively. Ameriprise Financial reached a two-month intraday high earlier, while Goldman is at a six-week intraday high.
Shares of Charles Schwab Corp. (SCHW) are also moving notably higher, advancing by 1.7 percent. The stock began trading on the New York Stock Exchange this morning after changing over from trading on the NASDAQ.
Raymond James Financial Inc. (RJF) is also on the rise, gaining 0.9 percent. With the upward move, the stock has reached a seventeen-month intraday high.
For comments and feedback: editorial@rttnews.com