Schwab stock outpaces financial stock rebound

The KBW Nasdaq Bank Index
BKX,
+0.60%
was up 0.7% on Wednesday, on pace to snap a seven-day losing streak, according to Dow Jones Market Data. Charles Schwab
SCHW,
+2.11%
was up 2.2% as it boosted the sector. Schwab on Tuesday filed plans to raise $2.35 billion in debt by offering $1.35 billion in 6.136% fixed-to-floating rate senior notes due 2034, as well as $1 billion in 5.875% fixed rate senior notes due 2026. Deutsche Bank reiterated a buy rating on Schwab and said stock losses by Schwab on Tuesday were sparked by the debt offering, but said the drop presented a buying opportunity. Among other financial stocks, Bank of America Corp.
BAC,
-0.47%
fell 0.2%, while JPMorgan Chase & Co.
JPM,
+0.32%
moved up by 0.3% and Goldman Sachs Group Inc.
GS,
+0.58%
added 0.6%. The Financial Select Sector SPDR Fund
XLF,
+0.65%
rose 0.5% and the SPDR Regional Banking ETF
KRE,
+1.04%
rose 1.3%.