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Sector Update: Financial
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Sector Update: Financial
Jun 10, 2024 1:03 PM

03:30 PM EDT, 06/10/2024 (MT Newswires) -- Financial stocks were easing in late Monday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) off 0.4%.

The Philadelphia Housing Index was adding 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.7%.

Bitcoin (BTC-USD) eased 0.1% to $69,590, and the yield for 10-year US Treasuries was rising 4 basis points to 4.47%.

In economic news, the central bank's Federal Open Market Committee is widely expected to hold its benchmark lending rate steady on Wednesday, according to the CME FedWatch Tool. The focus, however, will be on the FOMC's updated Summary of Economic Projections.

Official data on May consumer inflation in the US are scheduled to be released Wednesday, while the producer prices report is slated for a Thursday release.

In corporate news, Prudential Financial ( PRU ) is facing a lawsuit for allegedly failing to protect the personal information of about 36,545 individuals following a cybersecurity breach in early February, according to a court filing Friday. Prudential shares shed 0.1%.

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