Sector Update: Financial Stocks Higher Thursday Afternoon

MT Newswires Live11-22

Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) climbing 1.6%.

The Philadelphia Housing Index was adding 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.8%.

Bitcoin (BTC-USD) popped 5% to $98,167.59, and the yield for 10-year US Treasuries was rising 2 basis points to 4.43%.

In economic news, US initial jobless claims fell to 213,000 in the week ended Nov. 16 from an upwardly revised 219,000 in the previous week, compared with expectations for an increase to 220,000 in a survey of analysts compiled by Bloomberg.

The Conference Board's measure of leading indicators fell 0.4% in October, below expectations for a 0.3% decrease in a survey compiled by Bloomberg and following a 0.3% decrease in September.

In corporate news, Bank of New York Mellon (BK) shares added 1% after saying Thursday that the US Department of the Treasury's Bureau of the Fiscal Service has selected the company as the financial agent for the Direct Express prepaid debit card program.

HSBC (HSBC) abandoned its plans to build a carbon credits desk after the voluntary carbon market shrank to roughly $1 billion last year, Bloomberg reported. Its shares rose 0.3%.

Manulife Financial (MFC) shares gained 1.9% after the company said it signed a 5.4 billion Canadian dollars ($3.87 billion) reinsurance agreement with Reinsurance Group of America (RGA).

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