Sector Update: Financial Stocks Rise Late Afternoon

MT Newswires Live11-19 04:56

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each adding 0.3%.

The Philadelphia Housing Index was down 0.4% and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.6%.

Bitcoin (BTC-USD) gained 2.3% to $91,557, and the yield for 10-year US Treasuries was 1.4 basis points lower at 4.41%.

In economic news, the National Association of Home Builders' monthly housing market index rose to 46 in November from 43 in October, compared with expectations for no change in a Bloomberg survey.

In corporate news, Affirm (AFRM) said Monday that the company and online travel agency Priceline expanded their partnership, under which Affirm will serve as the pay-over-time provider for Priceline Partner Solutions. Affirm shares jumped nearly 10%.

Goldman Sachs (GS) is in talks with potential partners as it plans to spin off its digital assets platform into a new company, Bloomberg reported, citing an interview with Goldman's global head of digital assets, Mathew McDermott. Goldman shares were shedding 1%.

Whitestone REIT's (WSR) planned acquisition by MCB Real Estate has been withdrawn. Whitestone REIT shares added 0.9%.

MBIA (MBI) shares jumped 8.8% after Keefe, Bruyette & Woods upgraded its rating to outperform from market perform. The firm also raised the price target to $9 from $6.50.

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