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Sector Update: Financial Stocks Mixed Tuesday Afternoon

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Financial stocks were mixed in Tuesday afternoon trading with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.4%.

The Philadelphia Housing Index climbed 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.4%.

Bitcoin (BTC-USD) fell 1.4% to $76,197, and the yield for 10-year US Treasuries dropped 5.6 basis points to 4.502%.

In sector news, Wall Street lenders are urging the Federal Reserve to formalize recent supervisory changes to reduce the risk of future policy reversals, Reuters reported. Banks want clearer legal backing for the Fed's shift to an "observations" framework, citing concerns over legal ambiguity and potential future policy reversal, the report said.

In corporate news, Webster Financial (WBS) shareholders accepted the $12 billion takeover proposal from Banco Santander (SAN), Bloomberg reported, citing the company's extraordinary investor meeting. Webster shares rose 0.9%, and Santander gained 2.7%.

Intercontinental Exchange (ICE) said its ICE ETF Hub won regulatory approval to expand operations in Europe and Australia for the receipt and transmission of orders in exchange-traded products. ICE shares fell 1.3%.

FinVolution (FINV) shares jumped 7% after the company reported Q1 adjusted earnings and net revenue that exceeded expectations.

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