Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index advancing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.2%.
The Philadelphia Housing Index climbed 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.2%.
Bitcoin (BTC-USD) rose 0.5% to $63,978, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.598%.
In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed Tuesday. The consumer confidence index dropped to 90.8 this month from June's upwardly revised reading of 92.2. The consensus was for a 92.4 print in a Bloomberg survey.
In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.8%.
Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.8%.
Barclays (BCS) Chief Financial Officer Anna Cross said Tuesday it is shifting its compensation model toward a Wall Street-style structure by increasing performance-based pay while reducing fixed salaries for senior bankers, according to Bloomberg. Barclays shares fell 5.4%.
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