Sector Update: Financial Stocks Advance Tuesday

MT Newswires Live12-25 01:20

Financial stocks were higher in Tuesday trading, with the NYSE Financial Index increasing 0.6% and the Financial Select Sector SPDR Fund (XLF) rising 0.9%.

The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.2%.

Bitcoin (BTC-USD) rose 3.6% to $98,150, and the yield for 10-year US Treasuries climbed 2.4 basis points to 4.62%.

In regulatory news, the biggest banks plan to sue the Federal Reserve over its annual bank stress tests, CNBC reported.

In economic news, Redbook US same-store sales last week accelerated 5.9% from a year earlier compared with the 4.8% increase in the previous week.

In corporate news, Blackstone (BX) shares rose 1.9%, a day after the company forecast Q4 total realized performance revenue and total realized principal investment income through Dec. 23 of more than $775 million.

Brandywine Realty Trust (BDN) shares rose 2.7% after it said Tuesday that it completed the sale of two assets in Virginia within its joint venture portfolio for $265.8 million in gross sale proceeds.

Bankwell Financial (BWFG) shares added 2.8% after the firm said Monday that its board approved an expansion of Director Lawrence Seidman's stake in the company to a maximum of 14.99% from 9.9%

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