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Sector Update: Financial Stocks Decline Friday Afternoon
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Sector Update: Financial Stocks Decline Friday Afternoon
Dec 13, 2024 11:03 AM

01:42 PM EST, 12/13/2024 (MT Newswires) -- Financial stocks fell in Friday afternoon trading with the NYSE Financial Index down 0.2% and the Financial Select Sector SPDR Fund (XLF) off 0.1%.

The Philadelphia Housing Index slid 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.5%.

Bitcoin (BTC-USD) eased 0.1% to $101,490, and the yield for 10-year US Treasuries rose 7.1 basis points to 4.40%.

In economic news, US import prices rose 0.1% in November, compared with the 0.2% decrease expected in a survey compiled by Bloomberg and a downwardly revised 0.1% increase in October.

In corporate news, Affirm (AFRM) struck a capital partnership with investment firm Sixth Street, which will invest up to $4 billion in the buy-now, pay-later service provider's loans over the next three years. Affirm shares rose 2%.

Charles Schwab ( SCHW ) expects 2024 net revenue growth of 3% to 3.5%, up from its prior forecast of 2% to 3%. The shares still fell 4.1%.

Blackstone (BX) and Bain Capital are among the final bidders for Mitsubishi Tanabe Pharma, a subsidiary of Japan's Mitsubishi Chemical Group, in a deal potentially valued at $3 billion to $3.5 billion, Reuters reported. Blackstone shares fell 0.4%.

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