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Sector Update: Financial
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Sector Update: Financial
Oct 22, 2024 12:44 PM

01:41 PM EDT, 10/21/2024 (MT Newswires) -- Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index down 0.9% and the Financial Select Sector SPDR Fund (XLF) off 0.7%.

The Philadelphia Housing Index was falling 2.5%, and the Real Estate Select Sector SPDR Fund (XLRE) was dropping 2%.

Bitcoin (BTC-USD) was declining 1.4% to $67,492, and the yield for 10-year US Treasuries jumped 9.9 basis points to 4.17%.

In economic news, the Conference Board's measure of leading indicators fell 0.5% in September, below expectations for a 0.3% decrease in a survey compiled by Bloomberg and a 0.3% drop in August.

In corporate news, Atlantic Union Bankshares ( AUB ) agreed to buy Sandy Spring Bancorp ( SASR ) in an all-stock deal worth roughly $1.6 billion, creating the largest regional bank headquartered in the lower Mid-Atlantic. Atlantic Union shares were falling 5.6% and Sandy Spring shed 1.2%.

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