Sector Update: Financial Stocks Lower Late Afternoon

MT Newswires Live
11小时前

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index easing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.7%.

The Philadelphia Housing Index gained 3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.2%.

Bitcoin (BTC-USD) fell 2.5% to $62,660, and the yield for 10-year US Treasuries rose 2 basis points to around 4.45%.

In economic news, US initial jobless claims last week fell to 226,000 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Bank of America (BAC) scored an early victory in its collateral battle with Aequum Capital Financial II after a US bankruptcy judge temporarily barred Aequum from distributing cash collected from bankrupt auto-parts supplier First Brands' inventory sales, Bloomberg reported, citing the ruling. Bank of America shares were down 0.3%.

SpaceX (SPCX) bankers are planning a potential bond sale of at least $20 billion to refinance a $20 billion bridge loan maturing in September 2027, Bloomberg reported. Bank of America, Citigroup (C), JPMorgan Chase (JPM), Goldman Sachs (GS), and Morgan Stanley (MS), which provided the bridge financing, are expected to run the bond sale, the report said. Citi eased 0.2%, JPMorgan was down 2%, Goldman fell 0.4%, and Morgan Stanley was 0.5% lower.

Apollo Global Management (APO) made some concessions regarding its debt refinancing for photo-services company Shutterfly in a bid to entice some unwilling investors, Bloomberg reported. Apollo shares fell 0.7%.

Accenture (ACN) shares fell 17% after the company trimmed the top end of its full-year revenue outlook and posted weaker-than-expected fiscal Q3 sales, while announcing three cybersecurity acquisitions totaling about $4.18 billion.

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