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Sector Update: Financial
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Sector Update: Financial
Mar 26, 2024 11:05 AM

01:31 PM EDT, 03/26/2024 (MT Newswires) -- Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the Financial Select Sector SPDR Fund (XLF) ahead 0.5%.

The Philadelphia Housing Index was adding 0.6%, while the Real Estate Select Sector SPDR Fund (XLRE) was fractionally lower.

Bitcoin (BTC-USD) was declining 1% to $69,877, and the yield for 10-year US Treasuries was dropping 2 basis points to 4.24%.

In economic news, durable goods orders rose 1.4% in February, compared with a revised 6.9% drop in January, beating the consensus for an increase of 1%.

The Conference Board's measure of consumer confidence slipped to 104.7 in March from 104.8 in February, below the 107 expected in a survey compiled by Bloomberg.

The Case-Shiller National Home Price Index fell 0.1% in January before seasonal adjustment following a 0.4% decrease in December.

In corporate news, Visa (V) and Mastercard ( MA ) on Tuesday agreed to lower credit card fees and not increase them for a period of five years, as part of a settlement of a long-running case between the payments processors and US merchants. Visa and Mastercard ( MA ) shares each rose about 0.4%.

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