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Sector Update: Financial Stocks Advance Late Wednesday Afternoon
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Sector Update: Financial Stocks Advance Late Wednesday Afternoon
Mar 6, 2024 1:18 PM

03:51 PM EST, 03/06/2024 (MT Newswires) -- Financial stocks rose late Wednesday afternoon trading, with the NYSE Financial Index adding 0.5% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index rose 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 0.4%.

Bitcoin (BTC-USD) jumped 5.7% to $67,419, and the yield for 10-year US Treasuries fell 3.3 basis points to 4.104%.

In economic news, US job openings fell to 8.863 million in January, the Bureau of Labor Statistics reported Wednesday, slightly above the 8.85 million expected in a survey compiled by Bloomberg, but below the 8.889 million reported in December.

In corporate news, New York Community Bancorp ( NYCB/PU ) said Wednesday it has appointed Joseph Otting, former US Comptroller of the Currency, as chief executive as it's adding four new directors, including former US Treasury Secretary Steven Mnuchin, to its board following an investment deal in the company. The bank said Liberty Strategic Capital, Hudson Bay Capital, Reverence Capital Partners, Citadel Securities, other institutional investors and some members of its management will make a combined over $1 billion investment in the firm. New York Community Bancorp ( NYCB/PU ) shares rose 1.7%, recovering from earlier intraday losses.

Synchrony (SYF) completed the sale of its former Pets Best Insurance Services unit to Independence Pet in exchange for an undisclosed stake in the private equity-backed pet insurance company, the companies said Wednesday. Synchrony shares added 1.2%.

Carlyle Group ( CG ) initiated the sale of Japanese cosmetics supplier Tokiwa, aiming for an estimated $800 million valuation, Reuters reported Wednesday. Carlyle shares added 0.9%.

KKR (KKR) is in talks to buy German renewable energy producer Encavis in a deal valued at over 2 billion euros ($2.2 billion), Bloomberg reported Wednesday. KKR shares rose 0.2%.

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