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Sector Update: Financial Stocks Advance Late Afternoon
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Sector Update: Financial Stocks Advance Late Afternoon
Jul 23, 2024 1:21 PM

03:48 PM EDT, 07/23/2024 (MT Newswires) -- Financial stocks rose in late Tuesday afternoon trading with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) adding 0.4%.

The Philadelphia Housing Index gained 0.3%, while the Real Estate Select Sector SPDR Fund (XLRE) was little changed.

Bitcoin (BTC-USD) fell 2.3% to $66,004, and the yield for 10-year US Treasuries dropped 2 basis points to 4.24%.

In economic news, the Richmond Federal Reserve's monthly manufacturing index fell to minus 17 in July from minus 10 in June, compared with expectations for an improvement to minus 6 in a Bloomberg survey.

In corporate news, Ares Management ( ARES ) and HPS Investment Partners are among a group of direct lenders providing a $3 billion credit facility to finance Carlyle's (CG) potential bid for Baxter International's (BAX) kidney-care unit, Bloomberg reported. Ares shares fell 0.4% and Carlyle rose 0.2%.

JPMorgan Chase ( JPM ) , Mastercard ( MA ) and Accenture ( ACN ) are among eight companies ordered by the Federal Trade Commission to provide information about the potential impact of surveillance pricing products and services on consumer privacy and protections as well as competition. JPMorgan ( JPM ) shares added 0.1%, Mastercard ( MA ) fell 1.2% and Accenture ( ACN ) lost 0.4%.

FactSet Research Systems ( FDS ) named Helen Shan as chief financial officer, effective immediately, succeeding Linda Huber, who is leaving the company. FactSet shares fell 2.7%.

Old National Bancorp ( ONB ) shares added 2.1% after Q2 earnings beat estimates by analysts.

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