Sector Update: Financials unable to establish direction on Monday
Financial stocks ended mixed in afternoon trading, with the NYSE Financial Index climbing 0.1% while the SPDR Financial Select Sector ETF (XLF) was down 0.5%.
The Philadelphia housing index climbed 0.7% and the SPDR Real Estate Select Sector ETF (XLRE) slipped 0.7%.
Bitcoin fell 1.5% to $45,787, while the yield on 10-year U.S. Treasuries rose 3.5 basis points to 2.412%.
In company news, Newmark Group (NMRK) fell nearly 1% after the commercial property services company announced on Monday its purchase of London-based property consultancy BH2 for an unpaid amount. disclosed.
Among the advances, Citigroup (C) rose again 1% after the bank holding company announced on Monday the sale of its consumer banking business in Bahrain to Ahli United Bank. The deal includes Citi’s retail banking, credit card and unsecured lending businesses, but excludes its institutional businesses. Financial terms were not disclosed.
Redfin (RDFN) rose 3.4% after the residential real estate brokerage firm completed its $137.8 million acquisition of Bay Equity Home Loans. The deal is expected to boost Redfin’s earnings per share starting this year, the company said.
Block (SQ) rose 8.6% after Keybanc raised its price target for the online payments processor by $5 to $180 per share and reiterated its overweight rating for the stock.