Sector Update: Financial Stocks Decline Late Afternoon
Financial stocks were decreasing in late Tuesday afternoon trading, with the NYSE Financial Index shedding 0.5% and the Financial Select Sector SPDR Fund (XLF) off 0.4%.
The Philadelphia Housing Index was down 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.1%.
Bitcoin (BTC-USD) was rising 0.6% to $59,382, and the yield for 10-year US Treasuries was decreasing 5 basis points to 3.82%.
In corporate news, Insight Acquisition (INAQ) said Tuesday that it has received a Nasdaq notice stating that its listed securities failed to comply with the $15 million market value requirement for continued listing. Its shares shed 0.3%.
Wells Fargo (WFC) announced plans on Tuesday to sell the non-agency third-party servicing segment of its commercial mortgage servicing business to Trimont. Wells Fargo shares were down 0.4%.
KKR (KKR) is in advanced talks to buy The Parking Spot in a transaction valued at about $1.4 billion, Bloomberg reported Tuesday. KKR shares were falling 1.1%.
Goldman Sachs (GS) Chief Technology Officer Atte Lahtiranta is leaving to join Citadel as head of core engineering, a Citadel spokesperson confirmed to MT Newswires Tuesday. Goldman shares fell 1.5%.
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