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Sector Update: Financial
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Sector Update: Financial
May 1, 2024 10:37 AM

01:28 PM EDT, 05/01/2024 (MT Newswires) -- Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) slightly higher.

The Philadelphia Housing Index was shedding 0.5% and the Real Estate Select Sector SPDR Fund (XLRE) was little changed.

Bitcoin (BTC-USD) dropped 5.5% to $56,830, and the yield for 10-year US Treasuries was down 3 basis points to 4.66%.

In economic news, US job openings fell to 8.488 million in March, the Bureau of Labor Statistics said, lower than the 8.690 million openings expected in a Bloomberg survey and down from the 8.813 million openings reported in February.

The Institute for Supply Management's US manufacturing index fell to 49.2 in April from 50.3 in March, below expectations for 50 in a survey compiled by Bloomberg. Readings below 50 indicate contraction.

In corporate news, Mastercard ( MA ) Q1 earnings and revenue exceeded Wall Street estimates as consumer spending remained strong, though growth in the value of transactions processed on its platform slowed. Its shares were falling 1.3%.

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