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Sector Update: Financial Stocks Mixed Late Afternoon

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Financial stocks were mixed in late Friday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.1%.

The Philadelphia Housing Index was down 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.9%.

Bitcoin (BTC-USD) was down 6.2% to $59,675, and the yield for 10-year US Treasuries rose 5.9 basis points to 4.536%.

In economic news, the unemployment rate remained at 4.3% in May, as expected. The labor force participation rate was also unchanged from 61.8% in April, and the size of the labor force rose by 83,000 on an increase in household employment that was partially offset by a decline in household unemployment.

In corporate news, JPMorgan Chase (JPM) Chief Executive Jamie Dimon is exploring acquisition opportunities, potentially including a wealth management firm or a private credit business, the New York Post reported Friday, citing people familiar with the matter. JPMorgan shares rose 0.3%.

Fiserv (FISV) shares were down about 3.6% in Friday trading after BNP Paribas downgraded the stock to underperform from neutral and reduced its price target to $46 from $55.

Interactive Brokers (IBKR) will allow eligible UK clients to participate in the initial public offering of SpaceX ahead of the listing of its shares on Nasdaq, the company said Friday. Interactive Brokers' shares were down 3.4%.

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