Sector Update: Financial Stocks Lower Tuesday Afternoon

MT Newswires Live01:54

Financial stocks declined in Tuesday afternoon trading, with the NYSE Financial Index down 0.2% and the Financial Select Sector SPDR Fund (XLF) off 0.5%.

The Philadelphia Housing Index dropped 3.1%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.7%.

Bitcoin (BTC-USD) gained 5.2% to $72,736, and the yield for 10-year US Treasuries rose 1.6 basis points to 4.29%.

In economic news, US job openings fell to 7.443 million in September, the Bureau of Labor Statistics said. The figure trailed the 8 million expected in a survey compiled by Bloomberg and the 7.861 million reported in August.

The Conference Board's measure of consumer confidence rose to 108.7 in October from 99.2 in September, topping 99.5 expected in a survey compiled by Bloomberg.

In corporate news, PayPal's (PYPL) Q3 revenue rose less than projected while earnings growth outpaced forecasts by analysts as the company improved full-year profit expectations. Shares of PayPal were down 3.4%.

TPG's (TPG) Exactech unit filed for Chapter 11 bankruptcy amid "unsustainable liabilities" from lawsuits involving settlements for packaging recalls for knee and hip replacement devices. TPG shares were rising 0.2%.

Banco Santander (SAN) plans to cut 1,425 jobs in the UK this year as part of a strategy to simplify and automate operations, media outlets reported Tuesday, citing Chief Executive Hector Grisi. Banco Santander shares dropped 2.9%.

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