FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Financial Stocks Higher Tuesday Afternoon

By

Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index advancing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.2%.

The Philadelphia Housing Index climbed 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.2%.

Bitcoin (BTC-USD) rose 0.5% to $63,978, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.598%.

In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed Tuesday. The consumer confidence index dropped to 90.8 this month from June's upwardly revised reading of 92.2. The consensus was for a 92.4 print in a Bloomberg survey.

In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.8%.

Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.8%.

Barclays (BCS) Chief Financial Officer Anna Cross said Tuesday it is shifting its compensation model toward a Wall Street-style structure by increasing performance-based pay while reducing fixed salaries for senior bankers, according to Bloomberg. Barclays shares fell 5.4%.

Related Articles

Sectors

Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks were higher late Monday afternoon, with the NYSE Healthcare Index rising 0.6% and the State Street Health Care Select Sector SPDR ETF (XLV) adding 0.8%.The iShares Biotechnology ETF (IBB) advanced 0.7%.In corporate news, Forte Biosciences (FBRX) shares soared 39% after it agreed to be acquired by Argenx (ARGX) in a deal worth about $2.2 billion. Argenx shares were down 2.5%.AstraZeneca (AZN) shares were up 0.8% after it posted higher Q2 core earnings and revenue, and raised its interim dividend.Ensign (ENSG) shares climbed nearly 3% after it reported higher Q2 adjusted earnings and revenue, and raised its 2026 outlook.Veru (VERU) said Monday it has completed enrollment in a phase 2 trial evaluating its experimental drug enobosam in combination with semaglutide, in about 200 adults aged 65 and older with obesity. Veru shares gained 3.1%.

$ARGX$AZN$ENSG$FBRX$VERU
Sectors

Sector Update: Tech Stocks Decline Late Afternoon

Tech stocks were lower late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) shedding 0.7% and the State Street SPDR S&P Semiconductor ETF (XSD) down 0.8%. The Philadelphia Semiconductor index fell 2.1%.In corporate news, Nvidia (NVDA) has agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative. Separately, Nvidia is in talks to provide a roughly $250 billion financial backstop for Microsoft-backed (MSFT) OpenAI as part of a massive data center project in southern Ohio that could cost more than $500 billion, The Wall Street Journal reported Sunday. Nvidia shares were down 4.8%.ASML (ASML) shares fell 5.6% after The Information reported that a Chinese state-backed company has started making some chipmaking equipment that could impact ASML's market position.Amazon.com's (AMZN) Leo subsidiary filed with the US Federal Communications Commission to launch and operate a new constellation of up to 5,105 satellites designed to connect compatible mobile devices directly from space. Amazon shares eased 0.1%.Cognizant Technology Solutions (CTSH) said Monday it has struck a five-year partnership with Andover to scale its systems, unify its data, and help lay the foundation for AI adoption in underwriting and claims. Cognizant shares rose 4.5%.

$AMZN$ASML$CTSH$NVDA
Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks advanced in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.9%.The Philadelphia Housing Index was up 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was declining 0.7% to $64,905, and the yield for 10-year US Treasuries fell 3.8 basis points to 4.641%.In corporate news, Brookfield Asset Management (BAM) has raised $2 billion for Brookfield Middle East Partners, a new private equity fund anchored by Saudi Arabia's Public Investment Fund and other institutional partners, PIF said Monday. Brookfield Asset Management shares rose 2.5%.TPG (TPG) is engaged in exclusive talks to buy Macquarie-backed Netrality Data Centers, Bloomberg reported. TPG shares were up 0.4%.Ares Management (ARES) held discussions to acquire private equity firm Leonard Green & Partners to expand its private equity business, the Financial Times reported. Ares shares added 0.6%.Bank of Hawaii (BOH) reported higher-than-expected Q2 earnings, but revenue growth fell short of market expectations. Its shares fell 4.4%.

$ARES$BAM$BOH$TPG