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Sector Update: Financial Stocks Edge Higher Late Afternoon

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Financial stocks were edging higher late Tuesday afternoon, with the NYSE Financial Index up 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.1%.

The Philadelphia Housing Index increased 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) advanced 0.1%.

Bitcoin (BTC-USD) was shedding 0.3% to $78,919, and the yield for 10-year US Treasuries dropped 7.9 basis points to 4.63%.

In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said Tuesday. The consumer confidence index fell to 89.4 this month from July's reading of 90.2, which was the consensus in a Bloomberg survey.

In corporate news, UBS (UBS) is expanding its efforts to offer customers deposits with Middle East lenders to take advantage of higher regional savings rates, Bloomberg reported. UBS shares rose 1.1%.

Apollo Global Management (APO), KKR (KKR) and IFM Investors are the finalists for a majority stake in Associated British Ports, the UK's largest port operator, Bloomberg reported. Apollo shares rose 0.3%, and KKR was up 0.2%.

Alphabet's (GOOGL) Google Cloud said Tuesday it has launched a new agentic AI service for financial professionals, with Deutsche Bank (DB) and CME (CME) among those firms granted early access. Deutsche shares rose 1.6%, and CME was down 0.7%.

Bank of Nova Scotia (BNS) shares jumped past 7% after it reported better-than-expected Q3 results.

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