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Sector Update: Financial Stocks Mixed Late Afternoon
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Sector Update: Financial Stocks Mixed Late Afternoon
Sep 2, 2024 4:06 AM

03:58 PM EDT, 08/28/2024 (MT Newswires) -- Financial stocks were mixed in late Wednesday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) adding 0.2%.

The Philadelphia Housing Index fell 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.5%.

Bitcoin (BTC-USD) declined 4.6% to $59,217, and the yield for 10-year US Treasuries was little changed at 3.84%.

In corporate news, Terreno Realty ( TRNO ) shares retreated 2.2% after Wells Fargo downgraded the real estate company's stock to equalweight from overweight.

B. Riley Financial's ( RILY ) lenders have given the company additional time to file an overdue financial report, Bloomberg reported. B. Riley shares were falling 6.1%.

The US Securities and Exchange Commission has retreated from a plan to impose so-called swing pricing for mutual funds during periods of high redemptions in an apparent win for asset managers like BlackRock ( BLK ) and T. Rowe Price ( TROW ) , Bloomberg reported. BlackRock ( BLK ) shares added 0.4%, while T. Rowe was 0.2% lower.

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