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Sector Update: Financial Stocks Decline Late Afternoon
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Sector Update: Financial Stocks Decline Late Afternoon
Sep 11, 2024 1:23 PM

03:46 PM EDT, 09/11/2024 (MT Newswires) -- Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.2% and the Financial Select Sector SPDR Fund (XLF) shedding 0.7%.

The Philadelphia Housing Index was retreating 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.5%.

Bitcoin (BTC-USD) was down 0.3% to $57,633, and the yield for 10-year US Treasuries was up 1.1 basis points to 3.66%.

In economic news, the consumer price index rose 0.2% in August, unchanged from the previous month, the Bureau of Labor Statistics said. The headline reading was in line with a survey compiled by Bloomberg. Annually, inflation eased to 2.5% from July's 2.9% and met Wall Street's consensus.

In corporate news, Goldman Sachs ( GS ) is selling a significant risk transfer related to a portfolio of nearly $3 billion of leveraged loans, Bloomberg reported Wednesday. Goldman shares were rising 0.9%.

BlackRock ( BLK ) and Bapco Energies said Wednesday that a fund managed by BlackRock's ( BLK ) diversified infrastructure team acquired a minority stake in the Saudi Bahrain Pipeline from Bapco. BlackRock ( BLK ) shares shed 0.9%.

Voya Financial ( VOYA ) shares jumped nearly 6% after the company said Wednesday it has agreed to buy OneAmerica Financial's retirement plan business for an upfront purchase price of $50 million.

Toronto-Dominion Bank ( MLWIQXX ) unit TD Bank was ordered by the US Consumer Financial Protection Bureau to pay $27.8 million for allegedly sharing inaccurate and negative information about its customers to consumer reporting companies, the CFPB said. Toronto-Dominion Bank ( MLWIQXX ) shares were rising 1.1%.

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