Sector Update: Financial
Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.9% and the Financial Select Sector SPDR Fund (XLF) ahead 0.7%.
The Philadelphia Housing Index was climbing 1.7%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.8%.
Bitcoin (BTC-USD) was gaining 2.1% to $60,590, and the yield for 10-year US Treasuries was shedding 6 basis points to 3.85%.
In economic news, the US producer price index increased 0.1% month over month in July on a seasonally adjusted basis, compared with the Bloomberg-polled consensus for a 0.2% gain.
In corporate news, New York Community Bancorp (NYCB) shares jumped 8.7% after a regulatory filing showed that it signed separate share-exchange agreements Monday with affiliates of funds managed by Liberty 77 Capital, Hudson Bay Capital Management and Reverence Capital Partners.