Financial stocks were decreasing in late Tuesday afternoon trading, with the NYSE Financial Index falling 1% and the Financial Select Sector SPDR Fund (XLF) down 0.9%.
The Philadelphia Housing Index dropped 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.4%.
Bitcoin (BTC-USD) added 0.4% to $106,274, and the yield for 10-year US Treasuries was shedding 1 basis point to 4.39%.
In economic news, US retail sales surged 0.7% in the seasonally strong November, the highest since 1.1% reported in the same month in 2021 and above the 0.6% expected in a survey compiled by Bloomberg.
US industrial production fell by 0.1% in November, versus expectations for a 0.3% increase in a survey compiled by Bloomberg and a downwardly revised 0.4% drop in October.
In corporate news, Bank OZK (OZK) can achieve record net interest income in 2025 and 2026, despite asset sensitivity, UBS said in a note. It assumed coverage of the stock at neutral. Bank OZK shares were falling 3.1%.
Blackstone (BX) is considering the sale of the Grand Wailea Resort and is working with a broker that is contacting potential buyers for the property in Maui, Hawaii, Bloomberg reported. Blackstone shares were down 2.7%.
KKR's (KKR) second tender offer for Fuji Soft's common shares and share options received the Japanese IT company's support despite a new offer from Bain Capital, according to a Fuji Soft statement Tuesday that was translated from Japanese. KKR shares were falling 3.1%.
Farmers National Banc (FMNB) said Tuesday that its National Associates unit has completed the acquisition of Crest Retirement Advisors. Farmers shares declined 2.6%.
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