Financial stocks were leaning lower premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.
The Direxion Daily Financial Bull 3X Shares (FAS) was 0.3% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.3%.
Nu Holdings (NU) stock was up more than 13% after the company posted higher Q2 net income and revenue.
Energy stocks were slightly lower late Thursday afternoon, with the NYSE Energy Sector Index fractionally lower and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.1%.The Philadelphia Oil Service Sector Index was shedding 0.3%, and the Dow Jones US Utilities Index rose 0.3%.Front-month West Texas Intermediate crude oil fell 2.6% to $81.08 a barrel, and the global benchmark Brent crude contract shed 2.4% to $86.89 a barrel. Henry Hub natural gas futures declined 2.8% to $2.73 per 1 million BTU.In geopolitical news, the Strait of Hormuz is "under Iran's control and management," the recently appointed head of Iran's Basij paramilitary unit said Thursday, a day after President Donald Trump said the US had "total control" of the waterway, Reuters reported.US natural gas stocks rose by 36 billion cubic feet in the week ended Aug. 7, higher than the 31 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 33 billion cubic feet in the previous week.In corporate news, Exelon's (EXC) ComEd unit has restored power to more than 80% of customers affected by severe storms that swept through northern Illinois on Aug. 11 and 12, the company said Thursday. Exelon shares were up 0.7%.Delek Logistics Partners (DKL) shares fell past 11% after the company said it priced an underwritten public offering of 4 million units at $50 each for gross proceeds of $200 million.Kodiak Gas Services (KGS) has visibility into multiyear EBITDA growth amid rising demand across power and natural gas, RBC Capital Markets said in a note Wednesday. RBC kept an outperform rating on the stock and increased its price target to $88 from $84. Kodiak shares rose 1%.NextEra Energy (NEE) shares added 0.4%. The company said late Wednesday it signed an agreement with the US Department of Commerce and the Japanese government to fund the development and operation of up to 10 gigawatts of natural gas-powered generation in Texas and Pennsylvania.
Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.6%.The Philadelphia Housing Index added 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1.4%.Bitcoin (BTC-USD) was fractionally lower at $63,401, and the yield for 10-year US Treasuries fell 4.1 basis points to 4.641%.In economic news, the Producer Price Index held steady in July, following a 0.1% decrease in June, versus the 0.2% gain expected in a Bloomberg-compiled survey, amid sliding energy and food prices. Excluding food and energy, core PPI climbed 0.2%, below the 0.3% gain anticipated and a 0.4% increase in June.The probability of the Federal Reserve extending its policy pause to September jumped to 66% on Thursday, from 59% a day ago and 45% a week earlier, according to the CME FedWatch tool.In corporate news, Accelerant (ARX) said Thursday it has agreed to be acquired by Thoma Bravo in an all-cash deal with an enterprise value of over $4 billion. Accelerant shares surged 43%.Robinhood (HOOD) plans to accelerate the pace of debuts for its publicly traded closed-end funds after its first two attempts to make private firms more accessible to its retail customers, Bloomberg reported, citing an interview with Robinhood CFO Shiv Verma. Robinhood shares were up 4.6%.Coinbase (COIN) has received a financial services permission from the Financial Services Regulatory Authority to establish its international tokenization hub in ADGM, the international financial center of Abu Dhabi, ADGM said Thursday. Coinbase shares were up 2.3%.PSQ Holdings (PSQH) said Thursday it has closed a private investment in public equity financing, raising about $1.3 million. Its shares jumped past 27%.
Healthcare stocks eased late Thursday afternoon with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each decreasing 0.3%.The iShares Biotechnology ETF (IBB) shed 0.8%.In corporate news, Abeona Therapeutics (ABEO) shares fell past 15% after its Q2 results missed analysts' expectations.Monopar Therapeutics (MNPR) shares shed 4.3% after Cantor Fitzgerald downgraded the company's stock to neutral from overweight and adjusted the price target to $119 from $109.Novartis (NVS) defeated a bid by Accord Healthcare to invalidate its Entresto patent, with a UK court ruling that the patent and a related protection certificate remain valid, Reuters reported. Novartis shares declined 0.3%.MapLight Therapeutics (MPLT) shares climbed 3.8%. The company plans to sell securities in a private-placement financing for gross proceeds of $150 million.