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Sector Update: Financial
Aug 14, 2024 1:04 PM

03:30 PM EDT, 08/14/2024 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index gaining 1.1% and the Financial Select Sector SPDR Fund (XLF) rising 1.2%.

The Philadelphia Housing Index shed 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 0.6%.

Bitcoin (BTC-USD) declined 3% to $58,804, and the yield for 10-year US Treasuries dropped 3 basis points to 3.82%.

In economic news, the US seasonally adjusted consumer price index rose 0.2% in July, as expected in a survey compiled by Bloomberg, following a 0.1% drop in June. Annually, inflation eased to 2.9% in July, the smallest increase since March 2021.

Mortgage applications rallied last week to the highest since January 2023, driven by a surge in refinance activity, the Mortgage Bankers Association said.

In corporate news, Goldman Sachs ( GS ) agreed to sell Blanchardstown Centre to Strategic Value Partners, Bloomberg reported. Goldman shares rose 1.4%.

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