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Sector Update: Financial

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Financial stocks were higher late Thursday afternoon, with the NYSE Financial Index rising 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.

The Philadelphia Housing Index climbed 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.5%.

Bitcoin (BTC-USD) rose 0.9% to $76,409, and the yield for 10-year US Treasuries decreased 2.8 basis points to 4.39%.

In corporate news, AvalonBay Communities (AVB) and Equity Residential (EQR) have held discussions over a potential merger, which would be one of the biggest real estate deals ever, Bloomberg reported. AvalonBay shares were down 1.1%, and Equity Residential was fractionally lower.

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