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Sector Update: Financial Stocks Edge Higher Late Afternoon
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Sector Update: Financial Stocks Edge Higher Late Afternoon
Jun 3, 2025 1:14 PM

03:48 PM EDT, 06/03/2025 (MT Newswires) -- Financial stocks edged up in late Tuesday afternoon trading with the NYSE Financial Index little changed and the Financial Select Sector SPDR Fund (XLF) gaining 0.2%.

The Philadelphia Housing Index climbed 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was shed 0.4%.

Bitcoin (BTC-USD) increased 0.3% to $106,188, and the yield for 10-year US Treasuries rose 1.15 basis points to 4.465%.

In economic news, US job openings rose to 7.391 million in April, according to the Bureau of Labor Statistics, higher than the 7.1 million expected in a survey compiled by Bloomberg and up from the 7.2 million reported in March.

New orders for US factory goods declined by 3.7% in April, below expectations for a 3.2% drop in a survey compiled by Bloomberg and following a revised 3.4% increase in March.

The OECD revised global growth projections to 2.9% this year from 3.3% in 2024. It expects US growth to slow to 1.6% this year, revised from the 2.2% forecast in March. At 1.6%, this would mark the weakest pace since the 2020 coronavirus pandemic, Stifel said in a report.

In corporate news, FactSet Research Systems ( FDS ) appointed Sanoke Viswanathan as chief executive officer, effective in early September, replacing Phil Snow. FactSet shares fell 4.8%.

KKR (KKR) views the current environment as an attractive time for private real estate credit investing despite market volatility, according to a report from the real estate credit group. KKR shares fell 1.1 %.

Citigroup's ( C ) will no longer have a firearms-specific policy as part of the bank's commitment to "fair and unbiased access" to its products. The company ended its 2018 US policy that put certain restrictions on firearms sales by retail sector clients and partners. Citi shares rose 0.9%.

Robinhood (HOOD) shares rose 5.9% after the company closed the acquisition of cryptocurrency exchange Bitstamp.

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