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Sector Update: Financial Stocks Edge Lower Tuesday Afternoon
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Sector Update: Financial Stocks Edge Lower Tuesday Afternoon
Jan 28, 2025 11:18 AM

01:55 PM EST, 01/28/2025 (MT Newswires) -- Financial stocks were edging down in Tuesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) retreating 0.1%.

The Philadelphia Housing Index was falling 1%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 1.2%.

Bitcoin (BTC-USD) was increasing 3.7% to $102,923, and the yield for 10-year US Treasuries was rising 2 basis points to 4.56%.

In economic news, new orders for US durable goods fell by 2.2% in December after a decrease of 2% in the previous month, compared with expectations for a 0.6% increase in a survey compiled by Bloomberg.

The Richmond Fed's monthly manufacturing index improved to minus 4 in January from minus 10 in December, compared with expectations for no change in a survey compiled by Bloomberg.

In corporate news, Brighthouse Financial ( BHF ) shares jumped past 14%. The company is working with bankers at Goldman Sachs ( GS ) and Wells Fargo ( WFC ) to consider offers to sell itself entirely or raise minority equity, the Financial Times reported.

Progyny ( PGNY ) shares rose 1.9% after the company said Tuesday it has acquired BenefitBump, expanding its fertility and family building business with the addition of parental leave benefits management.

Visa (V) has struck a deal with X to be the social media company's first partner for X Money, its built-in payments system, X Chief Executive Linda Yaccarino said Tuesday. Visa shares added 0.7%.

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