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Sector Update: Financial Stocks Rise Late Afternoon
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Sector Update: Financial Stocks Rise Late Afternoon
Apr 2, 2025 1:02 PM

03:43 PM EDT, 04/02/2025 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each adding 0.4%.

The Philadelphia Housing Index climbed 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.1%.

Bitcoin (BTC-USD) increased 1.6% to $86,345, and the yield for 10-year US Treasuries rose 4 basis points to 4.20%.

In economic news, President Donald Trump will unveil import tariffs on US global trading partners at 4 pm ET at the White House.

ADP's monthly measure of private payrolls showed a 155,000 increase in March, above expectations for a 120,000 increase in a Bloomberg survey.

Mortgage applications in the US fell last week for the third straight week as refinancing activity cooled, the Mortgage Bankers Association said.

In corporate news, Visa (V) has offered $100 million to Apple ( AAPL ) in a move to take over network operations on the Apple Card from Mastercard ( MA ) , The Wall Street Journal reported. Visa shares were down 0.7% and Mastercard ( MA ) was shedding 0.8%.

KKR (KKR) is nearing a deal to sell its Spanish real estate management company Hipoges Iberia to Pollen Street, Bloomberg reported. KKR shares added 2.3%.

Goldman Sachs ( GS ) is being allowed by President Vladimir Putin to sell shares of Russia's largest energy producers, Bloomberg reported. Goldman shares rose 2.5%.

Rocket (RKT) shares jumped 9% after Keefe Bruyette & Woods and Deutsche Bank upgraded the stock.

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