Sector Update: Financial Stocks Ease Late Afternoon

MT Newswires Live12-04 04:34

Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index down 0.3% and the Financial Select Sector SPDR Fund (XLF) off 0.5%.

The Philadelphia Housing Index shed 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.3%.

Bitcoin (BTC-USD) dropped 0.3% to $95,530, and the yield for 10-year US Treasuries rose 3 basis points to 4.22%.

In economic news, Redbook US same-store sales last week jumped 7.4% from a year earlier after a 4.9% increase in the previous week. Redbook cited brisk sales on Black Friday and the weekend.

In corporate news, JPMorgan Chase (JPM) plans to hire 300 employees in Orlando over the next two years, Bloomberg reported. Separately, JPMorgan's global chair of investment banking, Jennifer Nason, is set to leave the bank early next year after almost four decades, Reuters reported late Monday. JPMorgan shares shed 0.2%.

PSQ Holdings (PSQH) appointed Donald Trump Jr. to its board. The shares almost tripled.

Block (SQ) said sellers using its platform completed 144 million consumer transactions worldwide over the Black Friday and Cyber Monday weekend, a 17% increase from a year earlier. The shares rose 0.2%.

BlackRock (BLK) agreed to buy credit investment manager HPS Investment Partners for $12 billion in stock to create an integrated private credit franchise with about $220 billion in client assets. BlackRock shares rose 2.1%.

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