Consumer stocks were lower late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) falling 1.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) decreasing 0.9%.
In corporate news, SiriusXM's (SIRI) discussions over a possible acquisition of iHeartMedia (IHRT) have hit an impasse after the two sides were unable to come to terms, The New York Times Dealbook reported. SiriusXM shares fell 1.6%, and iHeartMedia tumbled 14%.
Tech stocks were mixed late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 3.1%.The Philadelphia Semiconductor index was decreasing 0.3%.In corporate news, NetApp (NTAP) shares surged 26% after the company late Thursday released its fiscal Q4 results.
Healthcare stocks declined late Friday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding 0.9%.The iShares Biotechnology ETF (IBB) eased 0.1%.In corporate news, the Centers for Medicare & Medicaid Services will not impose intermediate sanctions on Elevance Health (ELV) at this time based on the health insurer's attestation to corrective action steps it has taken, the agency said Friday. CMS notified Elevance in February of its determination to impose intermediate sanctions for "substantial and persistent noncompliance with Medicare Advantage risk adjustment data submission requirements." Elevance shares rose 0.3%.
Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.6%.The Philadelphia Housing Index added 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 1%.Bitcoin (BTC-USD) was decreasing 0.2% to $73,361, and the yield for 10-year US Treasuries decreased 1 basis point to 4.445%.In corporate news, Blackstone (BX) is selling the US Bank Center in Seattle to office landlord Spear Street Capital for about $280 million, 54% less than what it paid for the building seven years ago, Bloomberg reported. Blackstone shares were up 0.2%.