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Sector Update: Financial Stocks Mixed Late Afternoon
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Sector Update: Financial Stocks Mixed Late Afternoon
Apr 26, 2024 1:04 PM

03:43 PM EDT, 04/26/2024 (MT Newswires) -- Financial stocks were mixed in late Friday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) down 0.1%.

The Philadelphia Housing Index climbed 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.2%.

Bitcoin (BTC-USD) slumped 1.1% to $63,854, and the yield for 10-year US Treasuries dropped 3.5 basis points to 4.67%.

In economic news, the personal consumption expenditures price index rose 0.3% for a second straight month, in line with expectations, lifting the year-over-year rate to 2.7% from 2.5% in February. The core PCE price index also increased 0.3% for the second consecutive month, in line with forecasts. The year-over-year rate remained at 2.8%, according to the Bureau of Economic Analysis.

The University of Michigan's consumer sentiment index was revised downward to 77.2 for April from 77.9 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg.

In corporate news, Midland States Bancorp ( MSBI ) shares tumbled 6.8% in recent trading on Friday, a day after the company's Q1 adjusted earnings came in below consensus estimates.

Heritage Commerce ( HTBK ) shares dropped 2.6% in recent Friday trading, a day after the company reported lower Q1 results that missed market consensus.

Carlyle Group ( CG ) and the family owners of Tamko Building Products are considering a sale of Tamko that could value it at more than $3.5 billion, Bloomberg reported. Carlyle shares added 1.2%.

Aon (AON) shares tumbled 7.2% after the company's Q1 results trailed market expectations.

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