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Sector Update: Financial Stocks Mixed Late Afternoon
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Sector Update: Financial Stocks Mixed Late Afternoon
Mar 15, 2024 1:06 PM

03:44 PM EDT, 03/15/2024 (MT Newswires) -- Financial stocks were mixed in late Friday afternoon trading with the NYSE Financial Index adding 0.1% and the Financial Select Sector SPDR Fund (XLF) down 0.1%.

The Philadelphia Housing Index climbed 0.8% and the Real Estate Select Sector SPDR Fund (XLRE) was little changed, erasing earlier losses.

Bitcoin (BTC-USD) fell 0.2% to $69,687, and the yield for 10-year US Treasuries was little changed at 4.31%.

In economic news, the University of Michigan's preliminary consumer sentiment index slipped to 76.5 in March from 76.9 in February, versus expectations for 77.1 in a survey compiled by Bloomberg.

US industrial production rose 0.1% in February, compared with expectations for a flat reading in a survey compiled by Bloomberg and following a downwardly revised 0.5% decrease in January.

In corporate news, Oportun Financial ( OPRT ) shares tumbled 16%, a day after its Oportun RF unit amended its indenture with Wilmington Trust, and at least a pair of analysts issued downgrades.

Zillow ( ZG ) and Compass (COMP) shares each tumbled 14% and Redfin (RDFN) fell 5.9% after the National Association of Realtors agreed to pay $418 million to settle claims brought on behalf of home sellers related to broker commissions.

JPMorgan Chase ( JPM ) shares rose 1.4% after its credit card trust delinquency and net charge-off rates fell in February from January.

KKR (KKR) is considering the potential sale of its majority stake in EuroKids International for about $1 billion, Bloomberg reported. KKR shares fell 0.3%.

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