Major banking institutions and mortgage servicers led Monday's HW 30 index — HousingWire’s exclusive list of mortgage-related stocks.
Additionally, all other indices finished the day strong as investors viewed strong earnings from retailers as a positive sign for consumer spending.
The Nasdaq and S&P 500 all entered positive territory at the end of the market close, rising 0.56% and 0.07%, respectively. The Dow Jones Industrial Average finished the day unchanged.
The nation’s largest banking institutions turned to the military to help polish the industry’s image as the country observed Veteran’s Day.
The banking giants also polished their stocks Monday, posting positive gains.
Bank of America (BAC), JPMorgan Chase (JPM) and Wells Fargo (WFC) finished the day strong, up 0.56%, 0.26% and 0.09%, respectively.
Meanwhile, mortgage servicing companies posted solid stock results.
Both Nationstar Mortgage Holdings (NSM) and Ocwen Financial Corp. (OCN) were the leaders on the HW 30, rising 3.62% and 3.14%, respectively.
Nationstar took a beating last week after the company missed its third-quarter estimates and reported that it was exiting some of its lending channels.
The HW 30 faces a newsworthy week ahead with Federal Reserve chairman Ben Bernanke and Fed vice chairman Janet Yellen scheduled to speak. Yellen also will appear in front of the Senate as part of a nomination hearing as lawmakers rev up to consider her for Bernanke's position.
Additionally, the market will receive the jobless claims report, which may be another factor in determining where the Fed goes from here in terms of its accomodative monetary policies.
