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Sector Update: Financial Stocks Mixed Thursday Afternoon
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Sector Update: Financial Stocks Mixed Thursday Afternoon
Mar 7, 2024 11:03 AM

01:41 PM EST, 03/07/2024 (MT Newswires) -- Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.3%.

The Philadelphia Housing Index was up 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.2%.

Bitcoin (BTC-USD) was increasing 2.1% to $67,580, and the yield for 10-year US Treasuries was up 2 basis points to 4.12%.

In economic news, the US international trade deficit widened to $67.43 billion in January from a $64.17 billion gap in December, versus the $63.5 billion gap expected in a survey compiled by Bloomberg.

In corporate news, New York Community Bancorp ( NYCB/PU ) shares jumped 7.5% after Fitch affirmed its ratings following the bank's announcement on Wednesday of a more than $1 billion capital investment by several firms. On Thursday, the company disclosed that deposits fell about 7% since early February.

Digital World Acquisition ( DWAC ) shares spiked about 4% after the firm said the Court of Chancery of the State of Delaware denied ARC Global Investments II's motion to expedite the case schedule on a share-conversion dispute.

JPMorgan Chase ( JPM ) spent nearly a year pursuing a possible acquisition of Discover Financial (DFS) before Capital One (COF) made a $35 billion bid for the credit company, the Financial Times reported. JPMorgan ( JPM ) shares were falling 1%.

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