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Sector Update: Financial Stocks Ease Monday Afternoon
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Sector Update: Financial Stocks Ease Monday Afternoon
Oct 2, 2024 2:18 AM

01:48 PM EDT, 09/30/2024 (MT Newswires) -- Financial stocks eased in afternoon trading with the NYSE Financial Index easing 0.2% and the Financial Select Sector SPDR Fund (XLF) falling 0.1%

The Philadelphia Housing Index rose 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.5%.

Bitcoin (BTC-USD) fell 3.1% to $63,545, and the yield for 10-year US Treasuries gained 1.3 basis points to 3.762%.

In economic news, the Institute for Supply Management's Chicago PMI reading rose to 46.6 in September from 46.1 in August, above the 46.0 print expected in a survey compiled by Bloomberg.

In corporate news, Marsh & McLennan ( MMC ) agreed to buy McGriff Insurance Services for $7.75 billion. Marsh & McLennan ( MMC ) shares fell 0.6%.

JPMorgan Chase ( JPM ) shares dropped 0.7% as a Morgan Stanley analyst downgraded the bank to equalweight from overweight.

TPG (TPG) acquired a "substantial" minority stake in wealth management firm Creative Planning through TPG Capital, Creative Planning said. TPG shares fell 1%.

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