Sector Update: Financial Stocks Advance Late Afternoon

MT Newswires Live
Jul 03

Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.1%.

The Philadelphia Housing Index was 0.1% lower, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.8%.

Bitcoin (BTC-USD) was climbing 2.3% to $61,570, and the yield for 10-year US Treasuries rose 1 basis point to 4.485%.

In economic news, the June employment report showed nonfarm payrolls rose by 57,000, according to the Bureau of Labor Statistics, below the 113,000 jump expected in a Bloomberg-compiled survey. May payrolls were revised downward to a 129,000 gain, and April payrolls were revised down to a 148,000 expansion, for a net downward revision of 74,000 jobs.

In corporate news, CME (CME) said its average daily volume in June rose 19% to a record for the month of 30.6 million contracts from a year earlier, while Q2 ADV reached 29.8 million contracts, the second-highest for the period in the exchange operator's history. Its shares added 2.3%.

Blackstone's (BX) QTS is scrapping its plans to build a portion of a large data center campus in Virginia after receiving significant pushback from residents there, Bloomberg reported. Blackstone shares were up 1.8%.

Goldman Sachs (GS) said Thursday it will provide a $1,000 matching contribution to federal Trump Accounts, a new tax-deferred federal investment vehicle, for eligible children of its US employees. Goldman shares were down 0.4%.

JPMorgan Chase (JPM) will join Gulf banks in helping arrange roughly $7 billion of debt financing for a Qatari company's projects in Syria, Bloomberg reported. JPMorgan shares were decreasing 0.2%.

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