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Sector Update: Financial
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Sector Update: Financial
Jun 24, 2025 1:05 PM

03:31 PM EDT, 06/24/2025 (MT Newswires) -- Financial stocks advanced in late Tuesday afternoon trading with the NYSE Financial Index rising 1.6% and the Financial Select Sector SPDR Fund (XLF) adding 1.7%.

The Philadelphia Housing Index climbed 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.8%.

Bitcoin (BTC-USD) increased 0.1% to $105,584, and the yield for 10-year US Treasuries shed 2.7 basis points to 4.293%.

In economic news, US consumer confidence fell in June as views on current and future conditions deteriorated amid uncertainty around the effects of tariffs, the Conference Board said. The consumer confidence index dropped by 5.4 points to 93 following a sharp gain in May, according to the Conference Board. The consensus in a Bloomberg survey was for a rise to 99.8.

US home prices fell sequentially in April, while the annual growth rate was the slowest in almost two years, S&P Global (SPGI) division S&P Dow Jones Indices said. Nationally, the S&P CoreLogic Case-Shiller Index declined 0.4% in April from March after seasonal adjustments, following a 0.3% drop in the previous month. The 10- and 20-city composite indexes both decreased 0.3%.

In sector news, US Senator Elizabeth Warren criticized regulators' potential changes to the enhanced supplementary leverage ratio for banks, Bloomberg reported, citing a letter. The changes, which include cutting a bank holding company's capital requirement under the rule to a 3.5% to 4.5% range from the current 5%, are set to be proposed after concerns that the rule constrained Treasuries market trading, the report said.

In corporate news, a federal judge on Tuesday denied Visa's (V) motion to dismiss a Justice Department antitrust lawsuit that alleges the company "monopolized and attempted to monopolize the [US] market for general purpose debit network services." Visa shares rose 2.3%.

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