Sector Update: Financial

MT Newswires Live03-14 01:25

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.

The Philadelphia Housing Index was rising 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was advancing 0.9%.

Bitcoin (BTC-USD) was increasing 2.3% to $72,145, and the yield for 10-year US Treasuries was rising 1.6 basis points to 4.29%.

In corporate news, CME (CME) Chief Executive Terry Duffy said the Trump administration would risk a "biblical disaster" if it tried to reduce oil prices by intervening in derivatives markets amid the ongoing US-Israel war with Iran, the Financial Times reported. "Markets do not like it when governments intervene in pricing," Duffy reportedly said at a conference. A recent report suggested the US Treasury was contemplating measures to reduce oil prices, including intervention in futures markets, according to the FT. CME shares were up 0.4%.

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