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Sector Update: Financial Stocks Decline Late Afternoon
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Sector Update: Financial Stocks Decline Late Afternoon
Jul 8, 2024 1:04 PM

03:41 PM EDT, 07/08/2024 (MT Newswires) -- Financial stocks eased in late Monday afternoon trading, with the NYSE Financial Index down 0.1% and the Financial Select Sector SPDR Fund (XLF) decreasing 0.2%.

The Philadelphia Housing Index added 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) was 0.3% higher.

Bitcoin (BTC-USD) declined 1% to $56,364.7, and the yield for 10-year US Treasuries was slightly lower at 4.27%.

In corporate news, Bain Capital is closing in on a deal to buy Envestnet ( ENV ) in a transaction valuing it at around its current stock price, Reuters reported Monday. Envestnet ( ENV ) shares rose more than 1%.

StoneCo ( STNE ) shares popped 5.6% after UBS upgraded the company's stock to buy from neutral while lowering its price target to $17 from $21.

KKR (KKR) is considering reviving the sale of Goodpack -- a Singapore-based supply chain and logistics company -- in a potentially multibillion-dollar deal, the Wall Street Journal reported Monday. KKR shares were falling nearly 1%.

B. Riley Financial ( RILY ) shares fell 1%. The company said it acquired the assets of Interface Consulting International, a construction consultancy specializing in troubled projects.

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