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Sector Update: Financial Stocks Advance Tuesday Afternoon

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Financial stocks were higher in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.

The Philadelphia Housing Index was climbing up 1.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.2%.

Bitcoin (BTC-USD) was increasing 1% to $64,073, and the yield for 10-year US Treasuries was dropping 5.7 basis points to 4.629%.

In sector news, Polymarket is seeking new investment at a valuation of more than $20 billion, Bloomberg reported. The prediction-markets platform is in early discussions with prospective investors to raise about $1 billion, the report said.

In corporate news, JPMorgan Chase's (JPM) asset management unit is nearing a deal to buy Idex from Antin Infrastructure Partners in a deal that would value the French heating and cooling network operator at about 3.8 billion euros ($4.4 billion), including debt, Bloomberg reported. JPMorgan shares rose 2.1%.

Blackstone (BX) has held early talks with investors to assess their interest in a second massive debt package to finance Anthropic's use of chips from Alphabet's (GOOGL) Google, Bloomberg reported. Blackstone shares added 1.8%.

Apollo Global Management (APO) shares were up 2.1% following its Q2 results.

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