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Sector Update: Financial Stocks Higher Late Afternoon
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Sector Update: Financial Stocks Higher Late Afternoon
Jul 30, 2024 1:25 PM

03:45 PM EDT, 07/30/2024 (MT Newswires) -- Financial stocks advanced in late Tuesday afternoon trading with the NYSE Financial Index adding 0.6% and the Financial Select Sector SPDR Fund (XLF) ahead 1%.

The Philadelphia Housing Index rose 1%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.5%.

Bitcoin (BTC-USD) fell 1.5% to $65,787, and the yield for 10-year US Treasuries dropped 4 basis points to 4.14%.

In economic news, US job openings fell to 8.184 million in June from 8.230 million in May, according to the Bureau of Labor Statistics. The June level topped the 8 million openings expected in a survey compiled by Bloomberg.

The Conference Board's measure of consumer confidence rose to 100.3 in July from a downwardly revised 97.8 in June, exceeding the 99.7 expected in a Bloomberg survey.

In corporate news, Getty Realty ( GTY ) shares dropped 5.2% after the company said Tuesday that it priced a public offering of 3.5 million shares at $30.10 per share.

Blackstone (BX) is in the early stages of talks to buy Retail Opportunity Investments ( ROIC ) , an owner of shopping centers in the US, Reuters reported. Blackstone shares were fractionally higher, and Retail Opportunity surged 20%.

PayPal ( PYPL ) shares jumped 7.8% after the company reported stronger-than-expected increases in Q2 results and boosted 2024 earnings guidance.

Renasant ( RNST ) agreed to buy First Bancshares (FBMS) for $1.2 billion in stock to expand in the US Southeast. Renasant ( RNST ) shares fell 4.4%, and First Bancshares jumped nearly 9%.

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