Sector Update: Financial Stocks Advance Thursday Afternoon

MT Newswires Live08-09

Financial stocks rose in Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both up 1.5%.

The Philadelphia Housing Index climbed 2%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.7%.

Bitcoin (BTC-USD) jumped 6.8% to $59,630, and the yield for 10-year US Treasuries rose 4.3 basis points to 4.01%.

In economic news, US initial jobless claims last week fell by 17,000 to 233,000 from an upwardly revised 250,000 level in the previous week, compared with expectations for a smaller decrease to 240,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Siebert Financial (SIEB) shares rose 4.5%. The company acquired Gebbia Entertainment for an undisclosed sum to expand its portfolio in music, entertainment and media.

Houlihan Lokey (HLI) shares gained 3.3% after the company agreed to buy advisory firm Waller Helms for an undisclosed sum.

Hamilton Insurance (HG) shares jumped 8.9%, a day after the company reported higher Q2 net income and revenue.

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