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Sector Update: Financial Stocks Mixed Late Afternoon
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Sector Update: Financial Stocks Mixed Late Afternoon
Jan 28, 2025 1:09 PM

03:47 PM EST, 01/28/2025 (MT Newswires) -- Financial stocks were mixed in late Tuesday afternoon trading with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) fractionally lower.

The Philadelphia Housing Index fell 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) dropped 1.1%.

Bitcoin (BTC-USD) rose 1.1% to $101,952, and the yield for 10-year US Treasuries rose 2.3 basis points to 4.551%.

In economic news, new orders for US durable goods fell 2.2% in December after a decrease of 2% in the previous month, compared with expectations for a 0.6% increase in a survey compiled by Bloomberg.

The Richmond Fed's monthly manufacturing index improved to minus 4 in January from minus 10 in December, compared with expectations for no change in a survey compiled by Bloomberg.

In corporate news, U.S. Bancorp ( USB ) named Gunjan Kedia as chief executive, effective April 15. Kedia succeeds Andy Cecere, who will become executive chairman. The shares were falling 2.2%.

Visa (V) and Elon Musk's X announced a partnership on Tuesday to facilitate peer-to-peer payments for users of the social media platform. Visa shares rose 0.5%.

Brighthouse Financial ( BHF ) shares jumped past 14%. The company is working with bankers at Goldman Sachs ( GS ) and Wells Fargo ( WFC ) to consider offers to sell itself entirely or raise minority equity, the Financial Times reported.

JPMorgan Chase ( JPM ) is negotiating to rent 150,000 square feet of space at the Canary Wharf office that used to be Credit Suisse's headquarters in the UK, Bloomberg reported. JPMorgan ( JPM ) shares added 0.3%.

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