Financial stocks were higher in Tuesday afternoon trading, with the NYSE Financial Index increasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.6%.
The Philadelphia Housing Index was rising 2.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1.9%.
Bitcoin (BTC-USD) was falling 2.7% to $61,381, and the yield for 10-year US Treasuries was decreasing 1 basis point to 4.542%.
In economic news, the US trade deficit narrowed in April as export growth outpaced an increase in imports, government data showed Tuesday. The goods and services deficit narrowed $700 million to $55.9 billion in April from March on a seasonally adjusted basis, the US Census Bureau and the Bureau of Economic Analysis said. The consensus was for a deficit of $56.1 billion in a Bloomberg survey.
The pace of US existing home sales rose by 3.2% to a 4.17 million seasonally adjusted annual rate in May from 4.04 million in April, compared with a smaller expected increase to a 4.07 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors showed.
Redbook US same-store sales rose by 9.1% from a year earlier in the week ended June 6 after a 9.0% year-over-year increase in the previous week, with seasonal buying accounting for a smaller share of activity than in recent weeks.
In corporate news, Payoneer Global (PAYO) shares surged 27% after Reuters reported the company is in advanced talks to be acquired by Canadian payments firm Nuvei for about $2.7 billion, including Payoneers cash, which implies an enterprise value of about $2.3 billion.
JPMorgan Chase (JPM) plans to launch AI agents later this year that are capable of working autonomously for far longer than current versions, CNBC reported, citing an interview with Chief Analytics Officer Derek Waldron. JPMorgan shares rose 0.3%.
Truist Financial (TFC) is preparing to expand its presence in the $1.8 trillion commercial mortgage-backed securities servicing market, with its Grandbridge Real Estate Capital unit planning to bid for master-servicer roles in upcoming transactions, Bloomberg reported. Truist shares added 1.2%.