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Sector Update: Financial Stocks Mixed Tuesday

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Financial stocks were mixed Tuesday with the NYSE Financial Index little changed, erasing earlier gains, and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.

The Philadelphia Housing Index fell 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) dropped 0.5%.

Bitcoin (BTC-USD) rose 0.4% to $64,713, and the yield for 10-year US Treasuries fell 1.8 basis points to 4.706%.

In economic news, US housing starts fell more than expected in July amid declines in both single and multifamily units, while building permits jumped to a five-month high, government data showed.

US pending home sales dropped 2.3% in July from June, data from the National Association of Realtors showed, while the consensus was for sales to be flat in a survey compiled by Bloomberg.

In sector news, Amazon.com-backed (AMZN) Anthropic's revolving credit facility is close to surpassing its $10 billion target as the AI company prepares for its initial public offering, Bloomberg reported.

In corporate news, Klarna (KLAR) shares tumbled 23% after the company cut its 2026 revenue outlook and announced the departures of the chief financial officer and the chief marketing officer, effective early 2027.

KKR (KKR) offered to buy natural gas and electricity distributor UGI (UGI) for $42.50 a share, or $9 billion, the Wall Street Journal reported. KKR shares fell 1.5%.

Goldman Sachs (GS) agreed to buy commercial real estate investor LCN Capital Partners for up to $410 million, Bloomberg reported, Goldman shares dropped 1.1%.

Blackstone-backed (BX) QTS Realty Trust units began a high-grade bond sale to help fund the construction of a data center tied to Microsoft (MSFT), Bloomberg reported. Blackstone shares were little changed.

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