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Sectors

Sector Update: Financial Stocks Fall Premarket Tuesday

Financial stocks were leaning lower premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.Citigroup (C) is planning to expand its global corporate banking team that serves North Asian clients by about 25% in 2026, Bloomberg reported, citing a company executive. Citigroup stock was down 0.5% pre-bell.Morgan Stanley's (MS) investment management unit and Mitsubishi UFJ Financial (MUFG) have begun talks to form a collaboration that will help a diverse group of institutional investors participate in developing Japan's private credit market. Shares of Morgan Stanley were nearly 1% lower premarket.Ares Management (ARES) has closed the Japan Logistics Development Partners V LP fund, raising 612 billion Japanese yen ($3.82 billion). Ares Management shares were 0.5% lower pre-bell.

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Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Monday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.1%.The Philadelphia Housing Index was up 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.3%.Bitcoin (BTC-USD) was rising 1.5% to $78,868, and the yield for 10-year US Treasuries fell 3.4 basis points to 4.70%.In economic news, the US will remove any entity facilitating money laundering on Iran's behalf from the US dollar system as part of "Operation Economic Outcast," Treasury Secretary Scott Bessent said Monday at a press conference. In addition, Bessent said the Treasury's Office of Foreign Assets Control is currently sanctioning over 60 entities, individuals and vessels assisting Iran, and he expects a "major announcement" of sanctions against a financial institution later this week.Separately, President Donald Trump said US tariffs on Canadian cars, trucks, auto parts and steel will rise to 50% next year, escalating trade tensions between the two countries after bilateral trade talks collapsed on Friday.The Chicago Federal Reserve Bank's monthly National Activity Index fell to minus 0.08 in July from 0.06 in June, compared with expectations for a smaller decrease to minus 0.05 in a Bloomberg survey.In corporate news, Strategy (MSTR) established USD Cash, a separate US dollar liquidity pool within its Digital Credit Capital Framework for future bitcoin treasury purposes, the bitcoin treasury firm said in a Monday regulatory filing. Strategy shares climbed 2.8%.Zillow (Z) shares gained 2.9% after it said Monday it has resolved a lawsuit brought by the US Federal Trade Commission and five states over its partnership with Redfin.Ares Management (ARES) led a $400 million private credit loan deal to facilitate CVC Capital Partners' acquisition of a stake in Chess.com, Bloomberg reported. Ares shares were down 0.9%.BlackRock (BLK) is gauging buying interest among rival managers, including Ares Management, for all $671 million of loans held by its TCP Capital private credit fund, Bloomberg reported. BlackRock shares rose 1.1%.

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Sectors

Sector Update: Financial

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1.1%.The Philadelphia Housing Index was up 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.3%.Bitcoin (BTC-USD) was rising 1.5% to $78,868, and the yield for 10-year US Treasuries fell 3.4 basis points to 4.70%.In corporate news, BlackRock (BLK) is gauging buying interest among rival managers, including Ares Management (ARES), for all $671 million of loans held by its TCP Capital private credit fund, Bloomberg reported. BlackRock shares were up 1%, and Ares was decreasing 0.6%.

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Wire

Update: Market Chatter: BlackRock Sounding Out Buyers for TCP Private Credit Assets

(Update with BlackRock's response to a request for comment in the last paragraph.)BlackRock (BLK) is gauging buying interest among rival managers, including Ares Management (ARES), for all $671 million of loans held by its TCP Capital private credit fund, Bloomberg reported Monday, citing people with knowledge of the matter.TCP's advisers at Keefe, Bruyette & Woods have started to pitch the assets to Ares and several other firms as BlackRock looks to overhaul the private credit fund, which trades at a discount to its net asset value, the report said, citing the people.No final decision to sell the loans has been made, the report said, citing one of the people.BlackRock declined to comment, while Ares didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1168.95, Change: $+12.40, Percent Change: +1.07%

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Wire

Market Chatter: BlackRock Sounding Out Buyers for TCP Private Credit Assets

BlackRock (BLK) is gauging buying interest among rival managers, including Ares Management (ARES), for all $671 million of loans held by its TCP Capital private credit fund, Bloomberg reported Monday, citing people with knowledge of the matter.TCP's advisers at Keefe, Bruyette & Woods have started to pitch the assets to Ares and several other firms as BlackRock looks to overhaul the private credit fund, which trades at a discount to its net asset value, the report said, citing the people.No final decision to sell the loans has been made, the report said, citing one of the people.BlackRock and Ares didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $1166.85, Change: $+10.30, Percent Change: +0.89%

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Sectors

Sector Update: Financial Stocks Rise Monday Afternoon

Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 1%.The Philadelphia Housing Index was up 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.2%.Bitcoin (BTC-USD) was rising 1.6% to $78,957, and the yield for 10-year US Treasuries dropped 4.6 basis points to 4.692%.In economic news, the Chicago Federal Reserve Bank's monthly National Activity Index fell to minus 0.08 in July from 0.06 in June, compared with expectations for a smaller decrease to minus 0.05 in a Bloomberg survey.President Donald Trump said US tariffs on Canadian cars, trucks, auto parts and steel will rise to 50% next year, escalating trade tensions between the two countries after bilateral trade talks collapsed on Friday.In corporate news, Strategy (MSTR) established USD Cash, a separate US dollar liquidity pool within its Digital Credit Capital Framework for future bitcoin treasury purposes, the bitcoin treasury firm said in a Monday regulatory filing. Strategy shares rose 2.6%.Ares Management (ARES) led a $400 million private credit loan deal to facilitate CVC Capital Partners' acquisition of a stake in Chess.com, Bloomberg reported. Ares shares were down 1.4%.Zillow (Z) said Monday it has resolved a lawsuit brought by the US Federal Trade Commission and five states over its partnership with Redfin. Under the agreement, Zillow and Redfin are allowed to continue their partnership, which aims to provide multifamily rental listings from both companies. Zillow shares rose 2%.

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Wire

Market Chatter: Ares Management Leads $400 Million Loan Deal to Support CVC Capital's Stake Purchase in Chess.com

Ares Management (ARES) led a $400 million private credit loan deal to facilitate CVC Capital Partners' acquisition of a stake in Chess.com, Bloomberg reported Monday, citing people familiar with the matter.The loan was priced at around 6 percentage points over the benchmark rate, according to the report.Ares Management did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $140.01, Change: $-1.24, Percent Change: -0.88%

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Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks fell in late Monday afternoon trading with the NYSE Financial Index dropping 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.9%.The Philadelphia Housing Index fell 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) dropped 0.8%.Bitcoin (BTC-USD) rose 2.3% to $64,279, and the yield for 10-year US Treasuries climbed 2.8 basis points to 4.724%.In economic news, the National Association of Home Builders' monthly housing market index rose to 35 in August from 34 in July, compared with expectations for a decline to 33 in a Bloomberg poll.The New York Federal Reserve's Empire State manufacturing index rose to 20.6 in August from 15.6 in July, compared with an expected drop to 10.0 in a Bloomberg survey. The Empire State index is the first manufacturing sector reading for August and suggests expansion is picking up pace.In corporate news, Blue Ridge Bankshares (BRBS) shares gained 8.3% after the company agreed to be acquired by HomeTrust Bancshares (HTB) in an all-stock deal valued at $448.1 million. HomeTrust shares fell 5%.JPMorgan Chase (JPM) was selected by General Atlantic to lead its initial public offering, multiple news outlets reported. JPMorgan shares fell 0.3%.Ares Management (ARES) is set to take control of UK broadband provider Toob and inject fresh equity into the struggling company backed by the UK's National Wealth Fund, Bloomberg reported. Ares shares shed 1.8%.Barclays (BCS) appointed Mike Joo and Adeel Khan as co-CEOs of its investment Bank, effective February. Barclays shares fell 1.1%.

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Sectors

Sector Update: Financial Stocks Decline Monday Afternoon

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each decreasing 0.4%.The Philadelphia Housing Index was shedding 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.8%.Bitcoin (BTC-USD) was increasing 2.3% to $64,263, and the yield for 10-year US Treasuries was rising 1.8 basis points to 4.714%.In economic news, the National Association of Home Builders' monthly housing market index rose to 35 in August from 34 in July, compared with expectations for a decline to 33 in a Bloomberg-compiled poll.The New York Federal Reserve's Empire State manufacturing index rose to 20.6 in August from 15.6 in July, compared with an expected decrease to 10.0 in a Bloomberg-compiled survey. The Empire State index is the first manufacturing sector reading for August and suggests expansion is picking up pace.In sector news, Jane Street posted $15 billion in losses last month as AI-focused hedge fund Situational Awareness swooned and dragged down asset prices across equity markets, Bloomberg reported. Jane Street, which invests in Situational Awareness and directly in AI ventures, suffered a rare and severe down month in July amid volatile markets. Wrong-way bets on options tied to Chinese markets also contributed to the losses, the report said.In corporate news, Ares Management (ARES) is set to take control of UK broadband provider Toob and inject fresh equity into the struggling company backed by the UK's National Wealth Fund, Bloomberg reported. Ares shares were down 1.9%.Intel (INTC) and Goldman Sachs (GS) are among the investors in AI video generation platform Higgsfield's recent $400 million funding round, pushing its valuation to $5.40 billion, the Financial Times reported. Goldman shares added 0.8%.Equinor (EQNR) agreed to acquire 88% of Lackawanna Energy Center's Class A shares for $940 million from funds managed by BlackRock's (BLK) Global Infrastructure Partners. BlackRock shares were shedding 1.5%.

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Sectors

Sector Update: Financial

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each decreasing 0.4%.The Philadelphia Housing Index was shedding 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.8%.Bitcoin (BTC-USD) was increasing 2.3% to $64,263, and the yield for 10-year US Treasuries was rising 1.8 basis points to 4.714%.In corporate news, Ares Management (ARES) is set to take control of UK broadband provider Toob and inject fresh equity into the struggling company backed by the UK's National Wealth Fund, Bloomberg reported. Ares shares were down 1.7%.

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Wire

Market Chatter: Ares Management to Take Control of UK Broadband Provider Toob

Ares Management (ARES) is set to take control of UK broadband provider Toob and inject fresh equity into the struggling company backed by the UK's National Wealth Fund, Bloomberg reported Monday, citing people familiar with the situation.Existing shareholders are expected to transfer their stakes to Ares, the report said.Ares Management declined to comment to, and the National Wealth Fund did not immediately reply to a request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $141.17, Change: $-2.85, Percent Change: -1.98%

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Wire

TD Cowen Adjusts Price Target on Ares Management to $163 From $155

Ares Management (ARES) has an average rating of overweight and mean price target of $148.67, according to analysts polled by FactSet.Price: $137.44, Change: $-2.33, Percent Change: -1.67%

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Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.2%.The Philadelphia Housing Index was adding 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.4%.Bitcoin (BTC-USD) was rising 1.2% to $64,814, and the yield for 10-year US Treasuries decreased 1 basis point to 4.617%.In economic news, the Institute for Supply Management's US services index rose to 54.1 in July from 54.0 in June, compared with expectations for 54.5 in a Bloomberg-compiled survey. The reading suggests faster expansion, in line with other measures but in contrast with the Richmond Fed print signaling contraction.The S&P Global US services index was revised upwards to 54.6 in July from the 53.6 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg. The July index is above the 51.2 reading in June and is the highest for nine months.ADP's monthly measure of private payrolls showed a 44,000 increase in July, below expectations in a Bloomberg-compiled poll for a gain of 65,000. The July increase followed a downwardly revised 95,000 jobs increase in June.In corporate news, PayPal (PYPL) CEO Enrique Lores plans to break out company results and assign revenue targets for its three main businesses to give investors a clearer picture of each unit's potential, Bloomberg reported Wednesday, citing an interview. PayPal shares were down 0.8%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon has reached out to CEOs of other large banks and IT companies, urging them to join a group seeking to address risks posed by AI, Reuters reported. JPMorgan shares were up 0.7%.Morgan Stanley (MS) is leading a consortium of banks planning to refinance through bond sales $15 billion of debt linked to a Google-backed data center in Texas that has been leased to Anthropic, the Financial Times reported. Morgan Stanley shares rose 0.8%.Ares Management (ARES) and Three Hills Capital are in talks to provide loans to Toscafund Asset Management to help finance its acquisition of Spire Healthcare Group, Bloomberg reported. Ares shares were down 2.1%.

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Sectors

Sector Update: Financial Stocks Rise in Afternoon Trading

Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was adding 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was increasing 1.2% to $64,692, and the yield for 10-year US Treasuries was slightly lower at 4.625%.In economic news, US private-sector employment increased less than expected in July as the gains were concentrated in just services, ADP (ADP) data showed Wednesday, ahead of the official nonfarm payrolls report for the month due later in the week. Private employers added 44,000 jobs in July, below the 65,000 increase expected in a survey compiled by Bloomberg. The hiring total for June was revised to 95,000 from 98,000, ADP said.In corporate news, JPMorgan Chase (JPM) Chief Executive Jamie Dimon has reached out to CEOs of other large banks and IT companies, urging them to join a group seeking to address risks posed by AI, Reuters reported. JPMorgan shares were up 1%.Morgan Stanley (MS) is leading a consortium of banks planning to refinance through bond sales $15 billion of debt linked to a Google-backed data center in Texas that has been leased to Anthropic, the Financial Times reported. Morgan Stanley shares rose 1.1%.Ares Management (ARES) and Three Hills Capital are in talks to provide loans to Toscafund Asset Management to help finance its acquisition of Spire Healthcare Group, Bloomberg reported. Ares shares were down 2.7%.

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Wire

Update: Market Chatter: Ares Said in Talks to Finance Toscafund's Bid to Acquire Spire Healthcare

(Updates with Ares' response to a request for comment in the last paragraph.)Ares Management (ARES) and Three Hills Capital are in talks to provide loans to Toscafund Asset Management to help finance its acquisition of Spire Healthcare Group, Bloomberg reported Wednesday, citing people with knowledge of the matter.Toscafund is seeking financing worth about 1 billion pounds ($1.3 billion), the report said, citing the people.Ares declined to comment, while Three Hills didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $138.07, Change: $-4.84, Percent Change: -3.39%

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Wire

Market Chatter: Ares Said in Talks to Finance Toscafund's Bid to Acquire Spire Healthcare

Ares Management (ARES) and Three Hills Capital are in talks to provide loans to Toscafund Asset Management to help finance its acquisition of Spire Healthcare Group, Bloomberg reported Wednesday, citing people with knowledge of the matter.Toscafund is seeking financing worth about 1 billion pounds ($1.3 billion), the report said, citing the people.Ares and Three Hills didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $138.34, Change: $-4.57, Percent Change: -3.20%

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Wire

Ares Said in Talks to Finance Toscafund's Bid to Acquire Spire Healthcare, Bloomberg Reports

Ares Said in Talks to Finance Toscafund's Bid to Acquire Spire Healthcare, Bloomberg Reports

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Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks advanced in late Monday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.9%.The Philadelphia Housing Index was up 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was declining 0.7% to $64,905, and the yield for 10-year US Treasuries fell 3.8 basis points to 4.641%.In corporate news, Brookfield Asset Management (BAM) has raised $2 billion for Brookfield Middle East Partners, a new private equity fund anchored by Saudi Arabia's Public Investment Fund and other institutional partners, PIF said Monday. Brookfield Asset Management shares rose 2.5%.TPG (TPG) is engaged in exclusive talks to buy Macquarie-backed Netrality Data Centers, Bloomberg reported. TPG shares were up 0.4%.Ares Management (ARES) held discussions to acquire private equity firm Leonard Green & Partners to expand its private equity business, the Financial Times reported. Ares shares added 0.6%.Bank of Hawaii (BOH) reported higher-than-expected Q2 earnings, but revenue growth fell short of market expectations. Its shares fell 4.4%.

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Wire

Market Chatter: Ares Management Exploring Leonard Green & Partners Acquisition

Ares Management (ARES) held discussions to acquire private equity firm Leonard Green & Partners to expand its private equity business, the Financial Times reported Monday, citing people familiar with the matter.A deal, however, is not guaranteed, the sources told the media outlet.Ares Management Chief Executive Michael Arougheti said last year the company was open to an acquisition that would strengthen its legacy private equity business, the FT reported.Ares Management did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $126.35, Change: $-0.16, Percent Change: -0.13%

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Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.The Philadelphia Housing Index was falling 1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.2%.Bitcoin (BTC-USD) was declining 1.6% to $64,752, and the yield for 10-year US Treasuries rose 4.6 basis points to 4.70%.In sector news, the US Justice Department will return to implementing targeted probes to expedite the review of merger deals, it said Thursday. The DOJ is "working to eliminate bureaucratic burdens while still preserving the integrity of Second Request investigations, which are aimed at protecting American consumers and affordability," said Associate Attorney General Stanley E. Woodward Jr.In corporate news, Zions Bancorporation (ZION) shares fell 1.5% after Evercore ISI downgraded the stock to underperform from inline and cut its price target to $68 per share from $74.Ares Management (ARES) received clearance from the European Commission to acquire joint control of Eni Plenitude alongside parent Eni (E), the EU's competition watchdog said Thursday. Ares shares rose 1.6%.Nasdaq (NDAQ) shares were up 0.4% after the company posted higher Q2 non-GAAP earnings and net revenue.KKR (KKR) plans to gradually sell its stake in Taiwan's LCY Chemical, Bloomberg reported, citing LCY Group Chairman Bowei Lee. KKR shares added 0.5%.

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