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Sector Update: Financial Stocks Edge Lower Late Afternoon

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Financial stocks edged down in late Tuesday afternoon trading, with the NYSE Financial Index 0.1% lower and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%.

The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.4%.

Bitcoin (BTC-USD) was falling 2.7% to $58,557, and the yield for 10-year US Treasuries fell 1 basis point to 4.39%.

In economic news, US job openings rose to 7.594 million in May, according to the Bureau of Labor Statistics, above the 7.296 million openings expected in a Bloomberg-compiled survey and up from the 7.585 million openings reported in April.

The Conference Board's measure of consumer confidence rose to 91.2 in June from a downwardly revised 90.6 in May, below the 94.4 expected in a Bloomberg-compiled poll.

The Institute for Supply Management's Chicago PMI fell to 56.7 in June from 62.7 in May, compared with the expected 55.1 reading in a Bloomberg survey.

In corporate news, Houlihan Lokey (HLI) agreed to acquire Intrepid Financial Partners, an investment bank specializing in advisory services for the energy sector, for an undisclosed amount. Houlihan Lokey shares rose 1%.

Helix Infrastructure Partners, a new AI infrastructure firm backed by KKR (KKR) and Nvidia (NVDA), is looking to buy a data center company to quickly bring new data center space to hyperscalers, The Information reported. KKR shares climbed 3.3%.

Ares Management (ARES) and Alibaba (BABA) co-founder Joe Tsai led a $100 million investment in the Premier Lacrosse League, valuing the league at more than $500 million, Bloomberg reported. Ares shares gained 4%.

Lloyds (LYG) is planning to raise its focus on workplace pensions to boost its wealth segment as part of its five-year strategy through 2030, Bloomberg reported. Shares added 1.5%.

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