Financial stocks were mixed in Monday afternoon trading with the NYSE Financial Index dropping 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) edging up 0.1%.
The Philadelphia Housing Index shed 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.3%.
Bitcoin (BTC-USD) fell 0.7% to $81,616, and the yield for 10-year US Treasuries rose 4.2 basis points to 4.406%.
In economic news, the pace of US existing home sales increased 0.2% to a 4.02 million seasonally adjusted annual rate in April from 4.01 million in March, below the expectations for a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors showed.
In sector news, the White House is reviewing a plan for the US Securities and Exchange Commission to end the so-called gag rule that lets companies and people settle enforcement actions without admitting wrongdoing if they vow not to dispute the allegations, Bloomberg reported.
In corporate news, Blackstone's (BX) real estate debt arm, Blackstone Real Estate Debt Strategies, launched a lending platform to provide capital and flexibility to US homebuilders, aiming to support construction of over 50,000 for-sale homes annually. Blackstone shares fell 1.5%.
Apollo Global Management (APO) said its managed funds agreed to buy Emerald Holding (EEX) and Questex to form a combined business events platform. Separately, Apollo is in discussions with potential buyers to sell its MidCap Financial Investment (MFIC) business development company, the Wall Street Journal reported. Apollo values the business at about $3 billion, the report said. Apollo shares fell 1.5%, and MidCap Financial Investment dropped 3.5%.
Brookfield Asset Management (BAM) is well positioned heading into its fundraising cycle, with its private equity and infrastructure flagships, along with 60 fundraising strategies driving an estimated $150 billion in fundraising in 2026, RBC Capital Markets said. Brookfield shares fell 1.5%.