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Sector Update: Financial Stocks Fall Late Afternoon
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Sector Update: Financial Stocks Fall Late Afternoon
Jun 25, 2024 1:16 PM

03:59 PM EDT, 06/25/2024 (MT Newswires) -- Financial stocks were in the red late Tuesday afternoon, with the NYSE Financial Index decreasing 0.6% and the Financial Select Sector SPDR Fund (XLF) down 0.9%.

The Philadelphia Housing Index dropped 2.1%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 1.5%.

Bitcoin (BTC-USD) rose 3.4% to $61,886, and the yield for 10-year US Treasuries was down 1.8 basis points at 4.23%.

In economic news, the Conference Board's measure of consumer confidence declined to 100.4 in June from 101.3 in May, compared with 100 expected in a survey compiled by Bloomberg.

The Richmond Fed's monthly manufacturing index slumped to minus 10 in June from 0 in May, versus expectations for minus 3 in a survey compiled by Bloomberg.

The Dallas Fed's monthly general business services index improved to minus 4.1 in June from minus 12.1 in May.

In corporate news, JPMorgan Chase ( JPM ) attracted $15 billion in assets to its new tax strategy division aimed at wealthy clients, competing with Goldman Sachs (GS) and Morgan Stanley (MS), The Financial Times reported Tuesday. JPMorgan ( JPM ) shares were shedding 0.3%.

A federal judge rejected a $30 billion settlement between credit-card companies Visa (V) and Mastercard ( MA ) and retailers to cap swipe fees after hinting earlier in June that a ruling might be expected, Bloomberg reported Tuesday. Visa shares fell 0.7%, and Mastercard ( MA ) shed 0.4%.

Banco Santander (SAN) sold about 300 million euros ($321 million) in hotel loans to Polus Capital Management in June, Bloomberg News reported Tuesday. Santander shares were down 0.5%.

Brookfield (BN) has signed a share purchase agreement with Impala and other shareholders to buy about 53% of the outstanding shares of Neoen, a French renewable energy producer, for 39.85 euros ($42.80) per share, the companies said Tuesday. Brookfield shares eased 0.2%.

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