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Sector Update: Financial Stocks Higher Late Afternoon
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Sector Update: Financial Stocks Higher Late Afternoon
Mar 21, 2024 1:22 PM

03:46 PM EDT, 03/21/2024 (MT Newswires) -- Financial stocks advanced late Thursday afternoon, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 0.9%.

The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.4%

Bitcoin (BTC-USD) dropped 4% to $65,176, and the yield for 10-year US Treasuries was little changed at 4.27%.

In economic news, the March flash reading of manufacturing conditions from S&P Global rose to a 21-month high of 52.5 from 52.2 in February, compared with 51.8 expected in a survey compiled by Bloomberg.

Separately, the Conference Board's measure of leading indicators rose 0.1% in February, compared with expectations for a 0.1% decline in a survey compiled by Bloomberg and a 0.4% decrease in January.

In corporate news, WisdomTree ( WT ) shareholder ETFS Capital on Thursday urged fellow stockholders to join in withholding votes from board members at company's upcoming shareholder meeting to ask for a comprehensive review process. WisdomTree ( WT ) shares were rising 0.7%.

Accenture ( ACN ) lowered its full-year revenue growth outlook amid macroeconomic uncertainties as fiscal Q2 sales fell short of market expectations. Its shares tumbled almost 10%.

The Bancorp (TBBK) shares fell past 10% as short-seller Culper Research said it has taken a short position on the stock.

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