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Sector Update: Financial Stocks Higher Late Afternoon
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Sector Update: Financial Stocks Higher Late Afternoon
May 25, 2025 10:46 PM

03:57 PM EDT, 04/29/2025 (MT Newswires) -- Financial stocks advanced in late Tuesday afternoon trading, with the NYSE Financial Index up 0.8% and the Financial Select Sector SPDR Fund (XLF) ahead 1%.

The Philadelphia Housing Index rose 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.9%.

Bitcoin (BTC-USD) increased 0.4% to $95,406, and the yield for 10-year US Treasuries dropped 3.8 basis points to 4.173%.

In economic news, US job openings fell to 7.192 million in March, below the 7.5 million expected in a Bloomberg survey and the 7.48 million reported in February. The March level represents 4.3% of total employment, down from 4.5% in February and 4.9% a year earlier, the Bureau of Labor Statistics said.

The Conference Board's measure of consumer confidence fell to 86 in April from 93.9 in March, below a reading of 88 expected in a survey compiled by Bloomberg.

In corporate news, Mastercard ( MA ) will take a 3% stake in Corpay's ( CPAY ) cross-border business under their expanded partnership. Mastercard ( MA ) shares rose 1%, and Corpay ( CPAY ) gained 2.1%.

Wells Fargo ( WFC ) shares gained 2.4% after the company's board authorized a new common stock repurchase program of up to $40 billion, which will start after completion of the current repurchase program.

Shift4 Payments ( FOUR ) shares jumped 12% after the company reported higher Q1 earnings and raised full-year revenue guidance.

Royal Bank of Canada ( RY ) shares added 0.8% after it said Tuesday it will abandon its sustainable finance targets due to changes in how the industry measures and reports sustainable finance activities.

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