-- Financial stocks declined Friday with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.1%.
The Philadelphia Housing Index was little changed, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.2%.
Bitcoin (BTC-USD) rose 1.8% to $73,058, and the yield for 10-year US Treasuries rose 2.4 basis points to 4.317%.
In economic news, US consumer inflation in March accelerated to its highest monthly reading in almost four years as the Middle East conflict drove energy prices higher. The consumer price index advanced 0.9% last month, the fastest pace of growth since June 2022, Bureau of Labor Statistics data showed, matching expectations from a Bloomberg survey of analysts. Prices rose 0.3% in February. Annually, inflation rose to 3.3% versus February's 2.4% increase, falling short of Wall Street's 3.4% projection.
US consumer sentiment in April fell to the lowest ever, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, the University of Michigan's preliminary survey showed. The main sentiment index plunged about 11% to 47.6 from March. Wall Street expected 51.5 print, according to a Bloomberg poll.
In corporate news, KKR (KKR) and EQT AB are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg reported. KKR shares dropped 1.7%.
Ares Management (ARES) is planning to launch a flagship US direct lending fund with a preliminary target of $20 billion, smaller than its previous record-breaking investment vehicle of $33.6 billion, Bloomberg reported. Ares shares fell 4.1%.
Fair Isaac (FICO) shares dropped 14% after Barclays cut its price target on the stock to $1,950 from $2,400 while maintaining its overweight rating.
Blackstone (BX) is mulling an initial public offering that could raise $2 billion for a firm that will acquire data centers, Bloomberg reported. Blackstone shares fell 1.8%.