Financial stocks were mixed in afternoon trading with the NYSE Financial Index dropping 0.2% and the Financial Select Sector SPDR Fund (XLF) little changed, paring earlier gains.
The Philadelphia Housing Index fell 2.7%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.3%.
Bitcoin (BTC-USD) declined 2.3% to $121,815, and the yield for 10-year US Treasuries dropped 4 basis points to 4.12%.
In economic news, the US economy likely added 17,000 jobs in September, Carlyle's (CG) data showed, indicating a weaker-than-expected showing as the government shutdown delayed the official nonfarm payrolls report last week.
In sector news, top US banks are calling on President Donald Trump for lead roles in the planned initial public offerings of mortgage financing companies Fannie Mae and Freddie Mac, The Wall Street Journal reported. Chief executive officers of JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Morgan Stanley (MS), Goldman Sachs (GS) and Citigroup (C) have all visited the White House, attempting to "court" Trump, Treasury Secretary Scott Bessent, Federal Housing Finance Agency Chief Bill Pulte, and Commerce Secretary Howard Lutnick, the report said.
Separately, Trump administration officials are evaluating options to sell off parts of the government's $1.6 trillion student loan portfolio, Politico reported. Senior officials from the Education Department and the Treasury Department have held talks focused on selling high-performing portions of the student debt portfolio, the report said.
In corporate news, UBS (UBS) is exploring a significant risk transfer transaction tied to $1 billion in corporate loans, Bloomberg reported. UBS shares fell 0.6%.
Great Elm Capital (GECC) expects a direct net asset value impact of about $16.5 million for the quarter ended Sept. 30 from its investments in First Brands, which filed for bankruptcy in September. Great Elm shares dropped 0.8%.
PayPal (PYPL)is launching an ads manager platform designed to help small businesses generate revenue from existing store traffic. PayPal shares gained 3%.
Intercontinental Exchange (ICE) agreed to invest up to $2 billion in Polymarket. ICE shares rose 1.6%.
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