Financial stocks surged in late Wednesday afternoon trading with the NYSE Financial Index jumping 4.1% and the Financial Select Sector SPDR Fund (XLF) soaring 6.2%.
The Philadelphia Housing Index fell 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) slumped 2.5%.
Bitcoin (BTC-USD) jumped 9.6% to $75,965, and the yield for 10-year US Treasuries surged 14 basis points to 4.43%.
In economic news, mortgage applications fell 11% in the week ended Friday as mortgage rates rose to the highest since July, according to the Mortgage Bankers Association.
In corporate news, the fees Visa (V) and MasterCard (MA) charge retailers in the EU are under probe by the bloc's regulators to see if the costs are hurting businesses, Reuters reported. Visa shares gained 4.6% and Mastercard rose 2.9%.
Capital One Financial's (COF) planned acquisition of Discover Financial Services (DFS) received a boost from Donald Trump's victory in the US presidential election, Bloomberg Intelligence said in a note. Capital One shares jumped 15% and Discover soared 20%.
Blackstone (BX) agreed to buy Retail Opportunity Investments (ROIC) for $4 billion in cash, or $17.50 a share. Blackstone shares rose 4.9%, and Retail Opportunity climbed 4.5%.
BlackRock (BLK) is preparing a private credit loan fund to raise as much as $1.3 billion for possible distribution to existing investors, Bloomberg reported. BlackRock shares rose 1.9%.
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