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Sector Update: Financial Stocks Advance Monday Afternoon
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Sector Update: Financial Stocks Advance Monday Afternoon
Aug 29, 2024 1:59 AM

01:48 PM EDT, 08/26/2024 (MT Newswires) -- Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index rising 0.3% and the Financial Select Sector SPDR Fund (XLF) adding 0.2%.

The Philadelphia Housing Index was shedding 0.6% and the Real Estate Select Sector SPDR Fund (XLRE) was 0.1% lower.

Bitcoin (BTC-USD) was declining 0.9% to $63,670, and the yield for 10-year US Treasuries was little changed at 3.81%.

In economic news, new orders for durable goods jumped 9.9% in July following a 6.9% drop in June, ahead of estimates compiled by Bloomberg for a 5% increase.

The Dallas Fed's monthly manufacturing index improved to minus 9.7 in August from minus 17.5 in July, compared with expectations for an improvement to minus 16 in a survey compiled by Bloomberg.

In corporate news, MoneyLion ( ML ) shares jumped 9% after the company said Monday that its board approved the repurchase of up to $20 million of the company's outstanding class A shares.

Prestige Wealth ( PWM ) shares surged past 66% after the company said Friday that it agreed to buy SPW Global for $4.5 million.

Columbia Financial ( CLBK ) said Monday that it received regulatory approval for Columbia Bank's merger with Freehold Bank from the US Office of the Comptroller of the Currency. Columbia Financial ( CLBK ) shares were little changed.

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