Major bank stocks were mixed in moderate trading on Wednesday. The overall stock market struggled to shake recent fears about a three-way presidential race and sharp declines in the Japanese stock market.
BankAmerica Corp. fell 37.5 cents, to $43.125 in afternoon trading, while J.P. Morgan & Co. was up 25 cents at $54.50.
Market sources said the trendless trading reflected investor wariness in advance of second-quarter earnings reports, which will start coming out in about two weeks.
Shares of government-sponsored enterprises also continued week because of investor caution about political risk in an election year.
The Federal National Mortgage Association fell $1.25, to $56.375, while the Federal Home Loan Mortgage Corp. fell 12.5 cents, to $36, and the Student Loan Marketing Corp. dropped 25 cents, to $63.375.
