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Sector Update: Financial Stocks Edge Up Late Afternoon
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Sector Update: Financial Stocks Edge Up Late Afternoon
Dec 31, 2024 1:19 PM

03:46 PM EST, 12/31/2024 (MT Newswires) -- Financial stocks edged higher late Tuesday afternoon with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both up 0.1%.

The Philadelphia Housing Index added 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.5%.

Bitcoin (BTC-USD) climbed 1.3% to $93,984, and the yield for 10-year US Treasuries gained 2.8 basis points to 4.573%.

In economic news, the Federal Housing Finance Agency's measure of home prices rose 0.4% in October after an unrevised 0.7% increase in the previous month, as expected in a survey compiled by Bloomberg.

The Case-Shiller National Home Price index fell by 0.2% in October before seasonal adjustments, following a 0.1% decrease in September.

In corporate news, BlackRock ( BLK ) was given until Jan. 10 to accept a deal allowing the Federal Deposit Insurance Corporation to increase its scrutiny of the asset manager's investments in FDIC-regulated banks, Reuters reported. BlackRock ( BLK ) shares shed 0.3%.

Apollo Global Management ( APO ) and a group of lenders to Serta Simmons Bedding won an appeal Tuesday to a ruling that excluded them from a deal the bankrupt mattress maker reached with other creditors. Apollo shares were shedding 0.3%.

Dave ( DAVE ) shares fell past 7% after the company denied Justice Department allegations of misleading customers with promises of cash advances, calling the complaint a case of "government overreach."

Affinity Bancshares ( AFBI ) shares dropped nearly 20% after the company and Atlanta Postal Credit Union agreed to terminate their proposed merger.

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