Sector Update: Financial Stocks Rise Friday Afternoon

MT Newswires Live01-04

Financial stocks advanced in Friday afternoon trading with the NYSE Financial Index gaining 0.6% and the Financial Select Sector SPDR Fund (XLF) up 0.5%.

The Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund (XLRE) both climbed 1.3%.

Bitcoin (BTC-USD) rose 1.5% to $98,361, and the yield for 10-year US Treasuries was little changed at 4.58%.

In economic news, the Institute for Supply Management's US manufacturing index rose to 49.3 in December from 48.4 in November, compared with expectations for a 48.2 reading in a survey compiled by Bloomberg.

In corporate news, BlackRock's (BLK) iShares Bitcoin Trust ETF (IBIT) recorded a net outflow of $333 million on Thursday, a record since the launch, Bloomberg reported Friday. BlackRock shares eased 0.1%.

Lazard (LAZ) was retained by Canyon Bridge Capital Partners to oversee the sale of UK-based chip designer Imagination Technologies, Bloomberg reported. Lazard shares fell 3.8%.

JPMorgan Chase (JPM) is considering withdrawing from the Net-Zero Banking Alliance after Morgan Stanley (MS), Citi (C), and Bank of America (BAC) withdrew from the United Nations-backed climate coalition this week, The Wall Street Journal reported Thursday. JPMorgan shares rose 0.6%.

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