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Sector Update: Financial Stocks Higher Monday Afternoon

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Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 1% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.2%.

The Philadelphia Housing Index was climbing 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.8%.

Bitcoin (BTC-USD) was declining 1.1% to $76,579, and the yield for 10-year US Treasuries was slightly higher at 4.599%.

In sector news, President Donald Trump will swear Kevin Warsh in as Federal Reserve chair on Friday during a ceremony, Bloomberg reported.

In corporate news, UWM (UWMC) on Monday urged all Two Harbors Investment (TWO) shareholders to vote against the CrossCountry Mortgage merger proposal at a special meeting to be held at 10 a.m. on Tuesday. UWM shares were down 0.7%, and Two Harbors was shedding 1%.

BlackRock (BLK) is considering a $5 billion to $10 billion investment in SpaceX's planned initial public offering, The Information reported. BlackRock shares added 0.5%.

Citigroup (C) and BlackRock's HPS Investment Partners are launching a 15 billion euro ($17.48 billion) private capital program to expand access to private financing for corporate and sponsor-owned borrowers in the Europe, the Middle East and Africa region, the companies said Monday. Citi shares were down 0.6%.

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