Sector Update: Financial Stocks Mixed Monday Afternoon

MT Newswires Live
2024-12-24

Financial stocks were mixed in Monday afternoon trading, with the NYSE Financial Index adding 0.1% and the Financial Select Sector SPDR Fund (XLF) fractionally lower.

The Philadelphia Housing Index rose 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) advanced 0.3%.

Bitcoin (BTC-USD) declined 3.1% to $92,881, and the yield for 10-year US Treasuries rose 6.1 basis points to 4.59%.

In economic news, the Chicago Federal Reserve Bank's monthly National Activity Index increased to a reading of minus 0.12 in November, as expected in a survey compiled by Bloomberg, following a minus 0.50 reading in October.

US new-home sales accelerated to a 664,000 annual rate in November from an upwardly revised 627,000 rate in October, lower than the 670,000 rate expected in a survey compiled by Bloomberg.

In corporate news, MetLife (MET) shares added 0.1% after its MetLife Investment Management unit agreed to buy PineBridge Investments from Pacific Century Group for up to $1.2 billion.

Bank of America (BAC) has been issued a cease-and-desist order by the Office of the Comptroller of the Currency for violations of its Bank Secrecy Act and sanctions compliance programs, the regulator said Monday. Bank of America shares fell 1.2%.

Banco Bilbao Vizcaya Argentaria (BBVA) shares rose 0.1% after it said Monday its proposed takeover of Banco Sabadell subsidiaries in Mexico has been approved by the Mexican Federal Economic Competition Commission.

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