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Sector Update: Financial Stocks Slipping Friday Afternoon
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Sector Update: Financial Stocks Slipping Friday Afternoon
Jul 5, 2024 11:13 AM

01:46 PM EDT, 07/05/2024 (MT Newswires) -- Financial stocks fell in Friday afternoon trading with the NYSE Financial Index down 0.5% and the Financial Select Sector SPDR Fund (XLF) shedding 0.2%.

The Philadelphia Housing Index dropped 1%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.4%.

Bitcoin (BTC-USD) declined 0.5% to $56,756, and the yield for 10-year US Treasuries dropped 7 basis points to 4.28%.

In economic news, the June employment report showed nonfarm payrolls rose by 206,000, above the 190,000 increase expected in a survey compiled by Bloomberg.

In corporate news, JPMorgan Chase ( JPM ) unit Chase Bank is planning to pass on the costs of new rules capping overdraft and late fees to its customers should they become law in their current form, The Wall Street Journal reported. JPMorgan Chase ( JPM ) shares fell 1.4%.

AGBA (AGBA) shares dropped 4.2% after the company said in a Friday filing that it signed a second amended and restated standby equity purchase agreement last week with investment fund Yorkville and social media company Triller.

CME (CME) said Friday its Q2 international average daily volume reached 7.8 million contracts, up 23% from a year earlier. Its shares were fractionally higher.

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