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Sector Update: Financial Stocks Advance Tuesday Afternoon
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Sector Update: Financial Stocks Advance Tuesday Afternoon
Jun 2, 2026 11:31 AM

02:04 PM EDT, 06/02/2026 (MT Newswires) -- Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.2%.

The Philadelphia Housing Index was adding 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.4%.

Bitcoin (BTC-USD) was dropping 5.9% to $67,321, and the yield for 10-year US Treasuries was decreasing 1.6 basis points to 4.459%.

In economic news, US job openings rose to 7.618 million in April, according to the Bureau of Labor Statistics, above the 6.866 million expected in a Bloomberg-compiled poll and up from the 6.887 million reported in March. The April report represents 4.6% of total employment, up from 4.2% in March and 4.3% a year earlier.

Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week. "Customers remain highly value-driven and price sensitive," Redbook said.

In corporate news, SpaceX is in talks with the Wall Street bankers handling its IPO to pay less than 0.75% for the $75 billion it expects to raise from the IPO, Bloomberg reported. Even at that low spread, the banks, including Goldman Sachs ( GS ) and Morgan Stanley ( MS ) , are expected to earn about $500 million from the offering, the report said. Goldman shares were up 1.8%, and Morgan Stanley ( MS ) climbed 2.4%.

UBS (UBS) is set to raise at least $500 million in Additional Tier 1 bonds denominated in US dollars, Bloomberg reported. Bloomberg described the offering as UBS's first foray into the market since the bank's host Switzerland paused plans to tighten rules on the riskier bank debt. UBS shares rose 0.3%.

BlackRock ( BLK ) is set to acquire a 15% stake in Japanese taxi-hailing app Go as part of the company's planned initial public offering, Nikkei Asia reported. The asset manager is expected to buy 11.8 million shares for 28 billion Japanese yen ($175 million), the report said. BlackRock ( BLK ) shares were down 0.2%.

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