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Sector Update: Financial Stocks Decline Late Afternoon

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Financial stocks fell in late Tuesday afternoon trading with the NYSE Financial Index declining 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.8%.

The Philadelphia Housing Index shed 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.3%.

Bitcoin (BTC-USD) fell 1.7% to $77,205, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.796%.

In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below 7.313 million expected in a survey compiled by Bloomberg and up from 7.182 million in June.

The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg.

The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The gauge was the highest since March.

In corporate news, Bank of America's (BAC) Erin Piacenti, vice president of the business selection and conflicts unit, died at the hospital after being stabbed in Times Square Monday, multiple media outlets reported Tuesday, citing the New York City Police Department and the bank's statement. The suspect, Pamela Cisneros, first stabbed a man in the abdomen as he stood with his wife waiting to cross the street, and then continued north on Seventh Avenue and stabbed Piacenti in the abdomen near 42nd Street, Bloomberg reported. NYPD Commissioner Jessica Tisch said the attacks appeared to be random and unprovoked, and the suspect had a history of mental health issues, Reuters reported. Bank of America shares were down 0.1%.

S&P Global (SPGI) is considering spinning out Capital IQ Pro, a move that could create a standalone firm worth billions of dollars, Bloomberg reported. S&P is in the early stages of weighing its options for its flagship data and research platform, the report said, adding that the unit could fetch a valuation in the high single-digit billions of dollars in a spinoff scenario. S&P Global shares were up 1.1%.

Apollo Global Management-backed (APO) Brightspeed informed investors there is significant doubt it can continue as a going concern, Bloomberg reported. Apollo shares fell 3.8%.

Blackstone (BX) and Apollo are among the private equity firms mulling bids for Syensqo's performance and care unit, which could be valued at 3 billion euros ($3.5 billion) or more, Bloomberg reported. Blackstone shares were down 4.7%.

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