Sector Update: Financial Stocks Decline Tuesday Afternoon

MT Newswires Live11-13

Financial stocks fell in Tuesday afternoon trading with the NYSE Financial Index down 0.8% and the Financial Select Sector SPDR Fund (XLF) off 0.4%.

The Philadelphia Housing Index dropped 2.2%, and the Real Estate Select Sector SPDR Fund (XLRE) declined 1%.

Bitcoin (BTC-USD) was slightly higher at $88,586, and the yield for 10-year US Treasuries jumped 12 basis points to 4.43%.

In economic news, the National Federation of Independent Business's monthly Small Business Optimism Index rose to 93.7 in October from 91.5 in September and 90.7 a year earlier.

In corporate news, ACNB (ACNB) received all regulatory approvals required for the all-stock acquisition of OTC-listed Traditions Bancorp. ACNB shares fell 1.3%.

Carlyle (CG) is considering an initial public offering or sale of Flender, a Germany-based mechanical and electrical drive technology provider, Bloomberg reported. Carlyle shares fell 2.7%.

Morgan Stanley (MS) Expansion Capital-managed funds invested $20 million in financial and payment infrastructure service provider NovoPayment. Morgan Stanley shares dropped 0.9%.

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