Sector Update: Financial Stocks Mixed Wednesday Afternoon

MT Newswires Live
2024-12-19

Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) up 0.1%.

The Philadelphia Housing Index was adding 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.5%.

Bitcoin (BTC-USD) shed 1.3% to $104,712, and the yield for 10-year US Treasuries was little changed at 4.39%.

In economic news, November housing starts fell by 1.8% from the previous month to a 1.289 million annual rate, below expectations compiled by Bloomberg for a 1.34 million rate after a decrease to a 1.312 million pace in October.

In sector news, the US Consumer Financial Protection Bureau has issued a warning to credit card companies that devaluing or canceling rewards points, cash back, or miles earned by cardholders may violate federal law, Reuters reported.

In corporate news, DLocal (DLO) is exploring a potential sale, among other options, Reuters reported. Its shares jumped 3.8%.

Barclays (BCS) is expected to boost annual bonuses by as much as 20%, following a strong year for its traders and investment bankers, Bloomberg reported. Barclays shares rose 1.6%.

Lennar (LEN) said Wednesday its recently formed unit Milrose Properties has filed documents with federal regulators detailing a proposed spin-off of a majority stake of itself. The proposed spin-off would result in an independent, publicly traded real estate investment trust if approved by Lennar's board. Lennar shares added 0.4%.

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