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Sector Update: Financial Stocks Advance Thursday Afternoon
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Sector Update: Financial Stocks Advance Thursday Afternoon
Apr 30, 2026 11:09 AM

01:45 PM EDT, 04/30/2026 (MT Newswires) -- Financial stocks were higher Thursday afternoon, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.3%.

The Philadelphia Housing Index was up 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1%.

Bitcoin (BTC-USD) rose 0.6% to $76,227, and the yield for 10-year US Treasuries was decreasing 2.4 basis points to 4.39%.

In economic news, the core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, rose to 3.2% year-on-year in March from 3%, meeting expectations. It climbed 0.3% month-over-month, down from the 0.4% reported in February.

US economic growth, measured by gross domestic product, rose by 2.0% in Q1 after a 0.5% gain in Q4, slower than a 2.3% increase expected in a survey compiled by Bloomberg.

US initial jobless claims fell to 189,000 in the week ended April 25 from an upwardly revised 215,000 in the previous week, against expectations for a rise to 212,000 in a Bloomberg survey.

In sector news, the US Senate unanimously passed Thursday a rule prohibiting its members from trading on prediction markets, effective immediately, CNBC reported.

In corporate news, KKR (KKR) is considering selling the Flora Food Group spreads business, seeking to strike a deal at a valuation of up to $10 billion, the Financial Times reported. KKR shares climbed 4.2%.

Mastercard's ( MA ) Q1 results outpaced Wall Street's estimates, but the company said that the Middle East conflict was impacting spending on cross-border travel. Its shares fell 4.7%.

Brookfield Asset Management ( BAM ) is preparing to file draft documents as early as May for an initial public offering of Indian telecommunications tower operator Altius Telecom Infrastructure Trust, Bloomberg reported. Brookfield shares rose 3.9%.

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