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Sector Update: Financial Stocks Mixed in Afternoon Trading

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Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF (XLF) down 0.1%.

The Philadelphia Housing Index rose 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.4%.

Bitcoin (BTC-USD) was declining 0.7% to $66,049, and the yield for 10-year US Treasuries was rising 2.6 basis points to 4.654%.

In sector news, Kalshi said Wednesday that it will launch a new election portal aimed at becoming a key reference point for US election odds ahead of the November midterm elections, according to multiple media reports. The New York-based prediction market platform said the portal will combine traditional campaign polling, fundraising data, political news and trading activity from its election markets.

In corporate news, Coinbase (COIN) has settled its Freedom of Information Act lawsuit against the US Securities and Exchange Commission with the regulator agreeing to provide additional documents and pay $150,000, a court filing said Wednesday. Coinbase shares were down 3.5%.

CME (CME) shares jumped past 5% after it reported Q2 adjusted earnings Wednesday of $2.99 per diluted share, up from $2.96 a year earlier. Analysts polled by FactSet expected $2.91.

Deutsche Bank's (DB) Frankfurt headquarters were searched by German prosecutors on Wednesday as part of an investigation into historic transactions conducted by Postbank between 2008 and 2010, Bloomberg reported. Deutsche shares were up 0.8%.

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Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.1%.The Philadelphia Housing Index was down 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.2%.Bitcoin (BTC-USD) was adding 1.6% to $66,270, and the yield for 10-year US Treasuries rose 3 basis points to 4.628%.In economic news, Redbook US same-store sales rose 7.8% from a year earlier in the week ended July 18 after an 8.2% year-over-year increase in the previous week.The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index rose to 7.4 in July from minus 25.8 in the previous month, indicating expansion in the sector.In corporate news, Goldman Sachs (GS) has launched a new platform to expand its offerings for wealthy clients and family offices seeking direct stakes in fast-growing private companies, CNBC reported, citing a memo. The new group, called the alternative investments platform, combines Goldman's alternatives business with two new teams, the report said. Goldman shares were up 2.5%.JPMorgan Chase (JPM) and Jefferies Financial (JEF) were among four banks chosen by InMobi to raise about $1 billion as part of an IPO process due to begin later this week, Bloomberg reported. JPMorgan shares rose 1.6%, and Jefferies added 2.6%.Marsh & McLennan (MRSH) shares were up 0.2% after the firm reported higher Q2 adjusted net income and revenue.MSCI (MSCI) shares fell past 10% after it reported Q2 adjusted EPS of $4.94, up from $4.17 a year earlier, but below the FactSet consensus of $4.99.

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