Sector Update: Financial

MT Newswires Live08-05

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.

The Philadelphia Housing Index was climbing 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.2%.

Bitcoin (BTC-USD) was increasing 1% to $64,073, and the yield for 10-year US Treasuries was dropping 5.7 basis points to 4.629%.

In corporate news, Apollo Global Management (APO) shares rose 1.3%. The company reported Q2 adjusted earnings Tuesday of $2.11 per share, up from $1.92 a year earlier. Analysts surveyed by FactSet expected $2.16. Revenue for the quarter was $11.15 billion, up from $6.81 billion a year earlier. Analysts expected $5.65 billion.

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