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Sector Update: Financial Stocks Higher Late Afternoon
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Sector Update: Financial Stocks Higher Late Afternoon
Nov 9, 2024 11:02 AM

03:49 PM EST, 11/05/2024 (MT Newswires) -- Financial stocks advanced in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund (XLF) up 0.6%.

The Philadelphia Housing Index climbed 2%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 1.1%.

Bitcoin (BTC-USD) rose 2.9% to $69,524, and the yield for 10-year US Treasuries fell 2.6 basis points to 4.28%.

In economic news, the Institute for Supply Management's US services index rose to 56.0 in October from 54.9 in September, compared with expectations for a decrease to 53.8 in a survey compiled by Bloomberg.

The S&P Global US services index was revised down to 55.0 in October from the 55.3 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg.

In corporate news, Goldman Sachs ( GS ) is planning to add the most employees to its partnership since Chief Executive Officer David Solomon took over, Bloomberg reported. Goldman shares rose 2.4%.

Payoneer Global ( PAYO ) shares surged past 20% after the company reported stronger-than-expected Q3 growth and raised its full-year outlook amid business-to-business momentum.

Cushman & Wakefield ( CWK ) shares jumped past 15% after the company's Q3 earnings came ahead of estimates.

Apollo Global Management ( APO ) reported Q3 adjusted net income Tuesday of $1.81 per share, up from $1.59 a year earlier and above the Capital IQ consensus analyst estimate of $1.72. Revenue was $7.77 billion, up from $2.60 billion a year earlier. Apollo shares gained 6.6%.

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