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Sector Update: Financial

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Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.4%.

The Philadelphia Housing Index eased 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.1%.

Bitcoin (BTC-USD) was falling 1.3% to $73,337, and the yield for 10-year US Treasuries was down 3 basis points at 4.45%.

In corporate news, MetLife (MET) and Ares Management (ARES) are at odds over restructuring of Eagle Football Group's debt, Bloomberg reported. Ares, which has provided more than $400 million in financing to Eagle Football, is trying loan restructuring while MetLife is being told to wait longer to get paid back, the report said. MetLife shares were down 1%, and Ares rose 0.4%.

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