Sector Update: Financial Stocks Decline Friday Afternoon

MT Newswires Live
28 Dec 2024

Financial stocks were lower in Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both falling 1%.

The Philadelphia Housing Index dropped 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.8%.

Bitcoin (BTC-USD) fell 1.3% to $94,537, and the yield for 10-year US Treasuries rose 3.2 basis points to 4.611%.

In economic news, data released by the US Census Bureau showed the US advance international trade in goods deficit widened to $102.86 billion in November from $98.26 billion in October, a bigger gap than the $101.2 billion deficit expected in a survey compiled by Bloomberg.

In corporate news, Brookfield Asset Management (BAM) and co-investors bought a 53% stake in French renewables developer Neoen for 39.85 euros ($41.53) a share, Bloomberg reported. Brookfield shares fell 1.8%.

LM Funding America (LMFA) shares popped 3% after it said Friday it has ordered 270 S21+ mining machines from Bitmain.

KeyCorp (KEY) shares shed 0.9% after it said Friday that the Bank of Nova Scotia (BNS) closed the purchase of about $2 billion of KeyCorp's common shares. Bank of Nova Scotia shares fell 0.2%.

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