Sector Update: Financial Stocks Advance Monday Afternoon

MT Newswires Live02:50

Financial stocks were higher in Monday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) up 1%.

The Philadelphia Housing Index was shedding 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.7%.

Bitcoin (BTC-USD) was increasing 0.8% to $89,349, and the yield for 10-year US Treasuries was rising 2 basis points to 4.17%.

In economic news, the Chicago Federal Reserve Bank's monthly National Activity Index improved to minus 0.21 in September from minus 0.31 in August, below an expected reading of minus 0.17 in a survey compiled by Bloomberg.

In corporate news, Janus Henderson (JHG) has agreed to be taken private by Trian Fund Management and General Catalyst Group Management in an all-cash deal worth roughly $7.4 billion, the companies said Monday. Janus shares gained 3.3%.

Flutter Entertainment's (FLUT) FanDuel unit and CME (CME) said Monday they have launched a prediction markets platform in Alabama, Alaska, South Carolina, North Dakota, and South Dakota, with a nationwide rollout planned through early 2026. CME shares rose 1.4%.

Wells Fargo (WFC) shares added 1.1% after Bloomberg reported the company is expanding its global-markets business into options clearing, a capital-intensive area of finance dominated by Bank of America (BAC) and Goldman Sachs (GS).

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