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Sector Update: Financial

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Financial stocks were mixed late Tuesday afternoon, with the NYSE Financial Index rising 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.2%.

The Philadelphia Housing Index climbed 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.4%.

Bitcoin (BTC-USD) fell 1.8% to $75,824, and the yield for 10-year US Treasuries dropped 6.5 basis points to 4.493%.

In corporate news, Pershing Square (PS) has a highly resilient and differentiated business model, but its valuation appears elevated at current levels, Oppenheimer said in a note. Oppenheimer initiated coverage with a perform rating. Shares were up 3%.

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