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Sector Update: Financial Stocks Mixed Wednesday Afternoon
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Sector Update: Financial Stocks Mixed Wednesday Afternoon
Dec 18, 2024 11:02 AM

01:41 PM EST, 12/18/2024 (MT Newswires) -- Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) up 0.1%.

The Philadelphia Housing Index was adding 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.5%.

Bitcoin (BTC-USD) shed 1.3% to $104,712, and the yield for 10-year US Treasuries was little changed at 4.39%.

In economic news, November housing starts fell by 1.8% from the previous month to a 1.289 million annual rate, below expectations compiled by Bloomberg for a 1.34 million rate after a decrease to a 1.312 million pace in October.

In sector news, the US Consumer Financial Protection Bureau has issued a warning to credit card companies that devaluing or canceling rewards points, cash back, or miles earned by cardholders may violate federal law, Reuters reported.

In corporate news, DLocal ( DLO ) is exploring a potential sale, among other options, Reuters reported. Its shares jumped 3.8%.

Barclays ( JJCTF ) is expected to boost annual bonuses by as much as 20%, following a strong year for its traders and investment bankers, Bloomberg reported. Barclays ( JJCTF ) shares rose 1.6%.

Lennar ( LEN ) said Wednesday its recently formed unit Milrose Properties has filed documents with federal regulators detailing a proposed spin-off of a majority stake of itself. The proposed spin-off would result in an independent, publicly traded real estate investment trust if approved by Lennar's ( LEN ) board. Lennar ( LEN ) shares added 0.4%.

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