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Sector Update: Financial Stocks Advance Tuesday
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Sector Update: Financial Stocks Advance Tuesday
Mar 31, 2026 1:39 PM

04:03 PM EDT, 03/31/2026 (MT Newswires) -- Financial stocks rose Tuesday with the NYSE Financial Index adding 2.5% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 2.1%.

The Philadelphia Housing Index climbed 2.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) advanced 1.6%.

Bitcoin (BTC-USD) advanced 1.6% to $67,803, and the yield for 10-year US Treasuries fell 3 basis points to 4.31%.

In economic news, US job openings fell to 6.882 million in February according to the Bureau of Labor Statistics, below the 6.890 million openings expected in a Bloomberg survey and down from the 7.24 million reported in January.

The Institute for Supply Management's Chicago PMI fell to 52.8 in March from 57.7 in February, compared with the 55.0 expected in a Bloomberg survey.

In corporate news, Carlyle (CG) and MAI Capital Management signed an agreement under which funds managed by Carlyle will buy a majority stake in MAI in a deal valued at more than $2.8 billion. Carlyle shares rose 4.2%.

KKR (KKR) intends to acquire all outstanding shares of Taiyo through a tender offer as part of a plan to take the Japanese electronic materials manufacturer private. KKR shares rose 2.9%.

BlackRock ( BLK ) is exploring HSBC's ( HSBC ) skyscraper in Canary Wharf, among other sites, for its new headquarters in London, the Financial Times reported. HSBC ( HSBC ) shares rose 4%, and BlackRock ( BLK ) added 3%.

US Secretary of Defense Pete Hegseth's broker at Morgan Stanley ( MS ) contacted BlackRock ( BLK ) in February about making a multimillion-dollar investment in its Defense Industrials Active ETF shortly before the US launched military strikes against Iran, the Financial Times reported. Morgan Stanley ( MS ) shares rose 3.9%.

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