FINWIRES · TerminalLIVE
FINWIRES

$BAM

42 stories mentioning BAMUpdated 1d ago

Every FINWIRES story that references BAM, newest first.

Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks rose in late Tuesday afternoon trading with the NYSE Financial Index advancing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.1%.The Philadelphia Housing Index climbed 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.1%.Bitcoin (BTC-USD) increased 0.1% to $63,726, and the yield for 10-year US Treasuries fell 3.7 basis points to 4.604%.In economic news, the Conference Board's measure of consumer confidence decreased to 90.8 in July from 92.2 in June, below the 92.4 expected in a Bloomberg-compiled survey.The Case-Shiller National Home Price Index rose 0.6% in May, after a 0.8% increase in April, before seasonal adjustment. National home prices were up 1.1% year-over-year, up from 0.9% in April.In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.9%.PayPal (PYPL) raised its full-year adjusted earnings guidance after reporting Q2 results above consensus estimates. Its shares gained 4.5%.Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.9%.State Street (STT) said Tuesday it reached a preliminary deal to buy a securities services joint venture operating in Brazil, Mexico, and Colombia from Santander (SAN) and Caceis. The targeted business manages about $470 billion in assets under custody alongside $225 billion in assets under administration, the company said. State Street shares were down 1.1%, and Santander was shedding 0.2%.

$BAM$PYPL$SAN$STT$V
Sectors

Sector Update: Financial Stocks Higher Tuesday Afternoon

Financial stocks rose in Tuesday afternoon trading with the NYSE Financial Index advancing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 1.2%.The Philadelphia Housing Index climbed 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.2%.Bitcoin (BTC-USD) rose 0.5% to $63,978, and the yield for 10-year US Treasuries fell 4.3 basis points to 4.598%.In economic news, US consumer confidence unexpectedly fell in July, with "little improvement" in business conditions expected over the next six months, a survey by the Conference Board showed Tuesday. The consumer confidence index dropped to 90.8 this month from June's upwardly revised reading of 92.2. The consensus was for a 92.4 print in a Bloomberg survey.In corporate news, Visa (V) plans to trim around 2,600 jobs as part of CEO Ryan McInerney's plan to streamline operations. The cuts, representing 7% of its workforce, will mainly affect technology and product teams. Visa shares rose 1.8%.Brookfield Asset Management (BAM) plans to focus renewable energy investments in India on states with stronger power grids as transmission constraints limit wind and solar generation elsewhere, Bloomberg reported Tuesday. Brookfield shares added 0.8%.Barclays (BCS) Chief Financial Officer Anna Cross said Tuesday it is shifting its compensation model toward a Wall Street-style structure by increasing performance-based pay while reducing fixed salaries for senior bankers, according to Bloomberg. Barclays shares fell 5.4%.

$BAM$BCS$V
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%.

$ARES$BAM$BOH$TPG
Sectors

Sector Update: Financial

Financial stocks were higher 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 climbing 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 2.3%.

$BAM
Wire

Brookfield Raises $2 Billion for PIF-Anchored Middle East-Focused Fund

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.The funds will go toward investments in the Middle East, focusing on high-growth Gulf Cooperation Council markets, with 50% of investments allotted in Saudi Arabia, the wealth fund said.Brookfield is committing $500 million to the fund, PIF said.Shares of Brookfield were up 2.1% in Monday afternoon trading.Price: $47.34, Change: $+0.98, Percent Change: +2.13%

$BAM
Oil & Energy

Kuwait Oil Signs $16 Billion Oil Pipeline Deal With Investor Consortium

Kuwait Petroleum subsidiary Kuwait Oil has finalized a $16 billion deal to lease and lease back its crude oil pipeline network with a group of investors led by Blackstone (BX), Brookfield Asset Management (BAM), and KKR (KKR), it said on Saturday.The agreement involves the formation of a joint venture, in which Blackstone, Brookfield, and KKR will collectively hold a 49% stake, and Kuwait Oil will hold 51%.The JV will lease 13 pipelines, totaling about 320 kilometers in length. After 20.5 years, Kuwait Oil will again operate and maintain the pipeline assets in exchange for a volume-based tariff, according to the statement."The JV will not impose any restrictions on Kuwait's refining throughput or production volumes, all of which remain subject to decisions made by the State of Kuwait," the company said.Kuwait Oil is expected to receive $7.85 billion in upfront proceeds upon closing of the JV.Price: $133.45, Change: $+3.48, Percent Change: +2.68%

$BAM$BX$KKR
Commodities

Brookfield to Acquire Battery Storage Developer Aypa Power From Blackstone in $7 Billion Deal

Brookfield Asset Management (BAM) said on Wednesday, that it had entered into an agreement to acquire Aypa Power, an Austin-based utility-scale energy storage provider in a $7 billion deal, from Blackstone (BX).Aypa is the largest standalone battery storage developer in North America, with about 6.5 gigawatts of operating, under-construction and contracted battery storage capacity, supported by a development pipeline exceeding 20 GW across the US and Canada.The transaction, which values Aypa at an equity value of $3 billion, includes its operating, under-construction and contracted battery storage assets, its development platform, and its roughly 200-person workforce.The deal is aimed at providing Brookfield a dominant position in the North American battery energy storage systems market.In its press release, Brookfield noted that Aypa's portfolio was 95% contracted, with long-term agreements with investment-grade customers, resulting in predictable cash flows for the company.Besides this, the investment management giant plans to leverage its own operating and development experience to accelerate Aypa's pipeline.Jehangir Vevaina, the Chief Investment Officer at Brookfield Energy, said battery storage has become "increasingly critical" to the "reliability and resilience" of modern power systems, while noting that the two companies together could deliver integrated energy solutions to large-scale power customers.

$BAM$BX
Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index down 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.5%.The Philadelphia Housing Index was falling 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 0.8% to $65,190, and the yield for 10-year US Treasuries climbed 5.7 basis points to 4.598%.In economic news, the Conference Board's measure of leading indicators declined by 0.2% in June, larger than the 0.1% decrease expected in a Bloomberg-compiled survey, following a 0.1% increase in May.In corporate news, Truist Financial (TFC) shares fell 3.3% after JPMorgan downgraded the stock to underweight from neutral and lowered its price target to $53 from $53.50.LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.8%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were down 1.5%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares fell 4.1%.

$BAM$BLK$KKR$LXP$TFC
Sectors

Sector Update: Financial Stocks Decline Monday Afternoon

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index down 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) declining 0.3%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was off 0.6%.Bitcoin (BTC-USD) was rising 1% to $65,342, and the yield for 10-year US Treasuries was climbing up 6 basis points to 4.602%.In corporate news, LXP Industrial Trust (LXP) has agreed to be acquired by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP shares rose 4.2%, and Brookfield was down 1.4%.BlackRock (BLK) is attempting to sell over $12 billion in bonds to finance a data center in El Paso, Texas, Bloomberg reported. BlackRock shares were shedding 1%.KKR (KKR) and Vauban Infrastructure Partners are among the shortlisted suitors seeking to buy a majority stake in Portuguese fiber operator DStelecom, Bloomberg reported. KKR shares were down 3.4%.

$BAM$BLK$KKR$LXP
Sectors

Sector Update: Financial

Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.2%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was decreasing 0.6%.Bitcoin (BTC-USD) was rising 1% to $65,342, and the yield for 10-year US Treasuries was climbing 6 basis points to 4.602%.In corporate news, LXP Industrial Trust (LXP) has agreed to be acquired and taken private by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity. LXP Industrial Trust shares rose 4.2%, and Brookfield Asset Management added was down 1.4%.

$BAM$LXP
Wire

Top Midday Stories: Brookfield, CPP Investments to Acquire LXP; Google Working on New Server Chip

The Dow Jones Industrial Average was down, while the S&P 500 and Nasdaq Composite were up, as chipmakers traded higher to kick off the week.In company news, Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash deal valued at around $5.2 billion, including net debt and preferred equity, LXP said Monday. Under the terms of the transaction, which is expected to close in Q4, LXP shareholders will receive $61.20 per share in cash. Brookfield shares were down 1.3% around midday, while LXP shares were up 4.2%.Alphabet's (GOOG, GOOGL) Google is working on a new server chip that will allow it to serve its AI models to users more efficiently, The Information reported Monday, citing two people with direct knowledge of the matter. Google plans to use the new chip to help address shortages in AI computing capacity, as the tech giant's workers project it could be 6 to 10 times more efficient than the latest version of its existing line of homegrown AI chips when it launches, the report said, citing the people. Google Class C shares were up 3.1%, while its Class A shares were up 3.0%.SpaceX (SPCX) said Sunday that it is preparing to launch the 13th flight test of Starship as early as Thursday. SpaceX shares were down 1.0%.Alibaba Group's (BABA) AliExpress unit was fined 550 million euros ($628.9 million) by the European Commission for failing to comply with the Digital Services Act, the European Commission said Monday. The EC penalized the web platform for failing to diligently assess and mitigate risks tied to the sale of counterfeit and hazardous items, it said. Alibaba shares were up 4.4%.Bristol-Myers Squibb (BMY) said Monday that it is expanding its partnership with Nvidia (NVDA) to build an AI factory dedicated to pharmaceutical research and development. Financial terms of the deal were not disclosed. Bristol shares were up 0.1%, while Nvidia shares were up 1.7%.Price: $47.71, Change: $-0.62, Percent Change: -1.28%

$BABA$BAM$BMY$GOOG$GOOGL$LXP$NVDA$SPCX
LXP Industrial Trust Agrees to Go Private in $5.2 Billion Acquisition Deal
US Markets

LXP Industrial Trust Agrees to Go Private in $5.2 Billion Acquisition Deal

LXP Industrial Trust (LXP) has agreed to be acquired and taken private by Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board in a deal worth roughly $5.2 billion, including net debt and preferred equity.Shareholders of LXP Industrial will receive $61.20 per share in cash, representing a premium of about 12% to the real estate investment trust's 30-day average price as of Friday, the companies said in a joint statement Monday.Shares of LXP Industrial rose 4% in Monday trade, taking its year-to-date gain to 22%."This transaction is the culmination of the LXP team's successful execution of our strategic plan to transform LXP into a pure-play industrial REIT," LXP Industrial Chief Executive Thomas Eglin Jr. said in the statement. "The LXP board unanimously determined that this transaction with Brookfield and CPP Investments fully maximizes value for our shareholders."LXP Industrial has warehouse and logistics facilities, comprising 108 properties in industrial markets in the Sunbelt and Midwest. The companies said the portfolio is "well positioned" to benefit from demand for logistics properties."The industrial sector, particularly in the US, continues to offer attractive long-term investment opportunities, supported by structural demand drivers including domestic manufacturing, evolving global supply chains and population growth across key Sunbelt markets," said Sophie van Oosterom, managing director and head of real estate at CPP Investments.The transaction, which requires approval from LXP Industrial's shareholders, is expected to close in the fourth quarter. Following completion, the company's shares will no longer trade on the New York Stock Exchange."LXP has assembled a high-quality industrial portfolio with modern logistics assets in attractive markets," Brookfield Real Estate CEO Lowell Baron. "The acquisition aligns with our strategy of investing in high-quality real estate with durable cash flows and opportunities to create value through active asset management."The deal allows LXP to consider alternative acquisition proposals until Aug. 28. LXP Industrial suspended its dividend payments until the deal completes or is canceled.In April, the company reported adjusted funds from operations of $0.80 a share for the first quarter, up from $0.78 a year earlier. Total gross revenue decreased to $85.9 million from $88.9 million in the prior-year quarter.Price: $60.83, Change: $+2.32, Percent Change: +3.97%

$BAM$LXP
Mining & Metals

Brookfield Asset Management Takes Stakes in Two US Companies for a Combined $7.3 Billion

Brookfield Asset Management (BAM.TO, BAM) on Monday said it entered two multibillion-dollar deals, agreeing to a joint venture to acquire outpatient medical buildings in the United States and teaming up with the Canada Pension Plan Investment Board to acquire LXP Industrial Trust (LXP) for $5.2 billion.The company said it formed a joint venture with Healthpeak Properties (DOC) for a 49% stake in outpatient facilities valued at $2.1 billion. It paid its partner $1.03 billion for the stake. Healthpeak will continue to manage the properties, providing asset management, leasing, and property management services. Healthpeak retains a seven-year right to buy back Brookfield's interest by providing its junior partner with a 6.5% return on its investment.Brookfield also on Monday said it and the CPP Investment Board agreed to acquire LXP Industrial Trust for $5.2 billion, including debt. The company said LXP "owns one of the largest portfolios of modern warehouse and logistics facilities in the US, comprising approximately 53 million square feet across 108 properties in attractive industrial markets in the Sunbelt and Midwest".LXP shareholders will receive $61.20 per share, a 12.3% premium to its 30-day weighted average price on the New York Stock Exchange."The acquisition aligns with our strategy of investing in high-quality real estate with durable cash flows and opportunities to create value through active asset management. We're excited to partner with CPP Investments and build on LXP's strong foundation," Lowell Baron, CEO of Brookfield Real Estate, said in a release.Brookfield shares opened down C$0.01, or 0.2%, to C$67.70 on the Toronto Stock Exchange.Price: $67.72, Change: $+0.01, Percent Change: +0.01%

$BAM$BAM.TO$DOC$LXP
Sectors

Sector Update: Financial Stocks Decline Pre-Bell Monday

Financial stocks were declining pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) marginally lower.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash transaction valued at around $5.2 billion, including net debt and preferred equity, LXP said. Shares of Brookfield Asset Management were down 0.4% premarket.Blackstone (BX) has agreed to make a "significant investment" in South Korea-based actuator supplier Futronic, the company said. Blackstone stock was 0.7% higher pre-bell.KKR (KKR) and property investor AEW Capital Management may separately sell commercial real estate in China at losses, Bloomberg reported. KKR shares were 0.9% higher premarket.

$BAM$BX$FAS$FAZ$KKR$LXP$XLF
Sectors

Sector Update: Financial

Financial stocks were edging higher pre-bell Monday, with the State Street Financial Select Sector SPDR ETF (XLF) marginally advancing.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.Brookfield Asset Management (BAM) and Canada Pension Plan Investment Board agreed to acquire LXP Industrial Trust (LXP) in an all-cash transaction valued at around $5.2 billion, including net debt and preferred equity, LXP said. Shares of Brookfield Asset Management were down 0.4% premarket.

$BAM$LXP
Oil & Energy

Market Chatter: Kuwait Petroleum Seeks Bidder Consolidations for $7 Billion Kuwaiti Oil Pipeline Stake

Kuwait Petroleum has requested that global investment funds bidding for a $7 billion stake in its oil pipeline network form consortiums to consolidate competing bids, aiming to accommodate smaller investors with close ties to the state energy firm, Reuters reported Thursday, citing sources.The deal has drawn notable interest across the alternative asset management sector, with Blackstone (BX) also surfacing as a participant for the first time in the current multi-year wave of Middle Eastern national oil company asset sales.Blackstone joins a group of infrastructure heavyweights advancing to the next round of the competitive sale process, including Brookfield Asset Management (BAM), Apollo Global Management (APO), KKR (KKR), EIG Global Energy Partners, and BlackRock (BLK) alongside its newly integrated infrastructure division, Global Infrastructure Partners.Except for KKR, who declined to comment, none of the parties involved responded immediately to' request for comments.(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.)

$APO$BAM$BLK$BX$KKR
Commodities

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Wednesday Ahead of Fed Chair Warsh's International Debut

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.2%, and the actively traded Invesco QQQ Trust (QQQ) retreated by 0.5% in Wednesday's premarket activity, ahead of remarks from Federal Reserve Chair Kevin Warsh in his first international speech at the European Central Bank's annual forum in Portugal.US stock futures were also lower, with S&P 500 Index futures down 0.2%, Dow Jones Industrial Average futures slipping 0.3%, and Nasdaq futures retreating 0.4% before the start of regular trading.Mortgage applications rose by 0.04% in the week ended June 26, according to Mortgage Bankers Association data released Wednesday.Outplacement firm Challenger, Gray & Christmas said on Wednesday that companies planned to cut 45,849 jobs in June, well below 97,006 in May and down from 47,999 a year ago.ADP's monthly measure of private payrolls showed a 98,000 increase in June, well below expectations compiled by Bloomberg as of 7:35 am ET for an increase of 120,000.Warsh is slated to speak at 9 am ET.The final Purchasing Managers' manufacturing index for June will be released at 9:45 am ET, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am ET.The weekly EIA domestic petroleum inventories report is due at 10:30 am ET.In premarket action, bitcoin was down by 0.2%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.6% lower, Ether ETF (EETH) retreated by 0.6%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.1%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.4%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were flat.Bloom Energy (BE) stock was up more than 7% before the opening bell after Brookfield Asset Management (BAM) expanded its strategic partnership with Bloom, increasing its financing framework for artificial intelligence infrastructure power projects to $25 billion from $5 billion.Winners and Losers:FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.5% higher.Klarna (KLAR) shares traded up more than 7% in early hours activity after a court ruled in favor of its PriceRunner unit, awarding it $1.97 billion in damages in an antitrust lawsuit against Alphabet's (GOOG, GOOGL) Google.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated by 0.04%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) slipped 0.03%. The iShares Biotechnology ETF (IBB) was 0.1% lower.Alvotech (ALVO) stock was up more than 3% premarket after the company said it has amended its agreements with GoldenTree Asset Management and other lenders to obtain a term loan facility of up to $75 million in additional capital.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.2%, and the iShares US Consumer Staples ETF (IYK) was up 0.2%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained marginally by 0.02%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was inactive.Kroger (KR) shares were down more than 2% pre-bell after the company said it has agreed to acquire regional supermarket chain Giant Eagle in a $1.65 billion deal, expanding its presence across northern Ohio, western Pennsylvania, West Virginia, Maryland and Indiana.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.7%, and the iShares US Technology ETF (IYW) was 0.1% lower, while the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was down 0.6%, while the iShares Semiconductor ETF (SOXX) fell by 1.6%.Microsoft (MSFT) shares were up more than 1% in Premarket activity after Business Insider reported the technology giant is planning to cut "thousands" of roles in sales and consulting, in addition to its Xbox gaming division.EnergyThe iShares US Energy ETF (IYE) was 1.5% higher, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.3%.Shell (SHEL) stock was down more than 1% before market open, a day after Bloomberg News reported the company is close to a deal to sell over 600 retail fuel outlets in South Africa to Abu Dhabi National Oil's retail arm for a deal valued at around $1 billion.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.5% to $69.14 per barrel on the New York Mercantile Exchange. Natural gas was down by 1.3% to $3.23 per 1 million British Thermal Units. The United States Oil Fund (USO) declined by 1.5%, while the United States Natural Gas Fund (UNG) was 0.6% lower.Gold futures for July were up by 0.2% to $4,046.90 an ounce on the Comex. Silver futures was down by 0.9% to $59.40 an ounce. SPDR Gold Shares (GLD) advanced by 0.3%, and the iShares Silver Trust (SLV) was 0.6% lower.

Dow JonesNasdaq CompositeS&P 500$ALVO$BAM$BE$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$GOOG$GOOGL$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KLAR$KR$MSFT$PMR$QQQ$RTH$SHEL$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index down 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.2%.The Philadelphia Housing Index was climbing 5.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was dropping 4.8% to $59,625, and the yield for 10-year US Treasuries fell 9.3 basis points to 4.40%.In economic news, US new-home sales decelerated to a 580,000 annual rate in May from an upwardly revised 626,000 rate in April, below the 640,000 rate expected in a Bloomberg-compiled survey. Home sales were down 6.8% from May 2025.Mortgage applications in the US increased last week as refinancing activity improved while home purchase demand edged lower, the Mortgage Bankers Association said. The market composite index, which measures loan application volume, increased 1% in the week ended June 19. On an unadjusted basis, the index decreased 10% compared with the previous week.In sector news, the US Securities and Exchange Commission's enforcement division is investigating funds popular among private equity firms that allow them to hold assets they either cannot or do not wish to sell, Reuters reported. The investigators are looking into potential conflicts of interest around continuation vehicles, how assets are valued and whether disclosures are consistent and sufficient, the report said.In corporate news, a Blackstone Mortgage Trust-originated (BXMT) loan on a 40-story Chicago office tower defaulted after the debt reached its maturity deadline on June 9, Bloomberg reported, citing a mortgage filing. New York-based real estate firm 601W defaulted on the $343 million loan on June 9, the filing showed, according to the report. Blackstone Mortgage Trust shares were down 3.8%.Morgan Stanley's (MS) $7 billion private credit fund capped investor withdrawals at 5% in Q2 after shareholders sought to redeem 11.6% of outstanding shares, Bloomberg reported. More than half of the latest redemption requests at the North Haven Private Income Fund came from investors who were unable to fully exit the fund in the previous quarter, the report said. Morgan Stanley shares fell 2.2%.Brookfield Asset Management (BAM) and the Artificial Intelligence Infrastructure Partnership are among possible bidders for Stack Infrastructure's data centers in the Asia Pacific, Bloomberg reported. Other potential suitors include KKR (KKR), the report said. Brookfield shares were down 4.2%, and KKR shed 2.6%.ProAssurance (PRA) shares rose 1.4% after the company said it has received all regulatory approvals for its planned merger with The Doctors Co.

$BAM$BXMT$KKR$MS$PRA
Sectors

Sector Update: Financial Stocks Lower in Afternoon Trading

Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.The Philadelphia Housing Index was climbing 5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.7%.Bitcoin (BTC-USD) was dropping 5.3% to $59,125, and the yield for 10-year US Treasuries was falling 8.9 basis points to 4.40%.In economic news, US new-home sales decelerated to a 580,000 annual rate in May from an upwardly revised 626,000 rate in April, below the 640,000 rate expected in a Bloomberg-compiled survey. Home sales were down 6.8% from May 2025.Mortgage applications in the US increased last week as refinancing activity improved while home purchase demand edged lower, the Mortgage Bankers Association said. The market composite index, which measures loan application volume, increased 1% in the week ended June 19. On an unadjusted basis, the index decreased 10% compared with the previous week.In sector news, the US Securities and Exchange Commission's enforcement division is investigating funds popular among private equity firms that allow them to hold assets they either cannot or do not wish to sell, Reuters reported. The investigators are looking into potential conflicts of interest around continuation vehicles, how assets are valued and whether disclosures are consistent and sufficient, the report said.In corporate news, Brookfield Asset Management (BAM) and the Artificial Intelligence Infrastructure Partnership are among possible bidders for Stack Infrastructure's data centers in the Asia Pacific, Bloomberg reported. Other potential suitors include KKR (KKR), the report said. Brookfield shares were down 3.5%, and KKR shed 1.6%.Morgan Stanley's (MS) $7 billion private credit fund capped investor withdrawals at 5% in Q2 after shareholders sought to redeem 11.6% of outstanding shares, Bloomberg reported. More than half of the latest redemption requests at the North Haven Private Income Fund came from investors who were unable to fully exit the fund in the previous quarter, the report said. Morgan Stanley shares fell 2.4%.ProAssurance (PRA) shares rose 1.4% after the company said it has received all regulatory approvals for its planned merger with The Doctors Company, clearing the final major hurdle for the deal.

$BAM$KKR$MS$PRA
Wire

Market Chatter: Energy Department Plans $17.5 Billion Loan Program for Big Nuclear Reactors

The Trump administration is expected to announce a new deal Tuesday through which the Department of Energy will make available low-interest loans amounting to $17.5 billion for utilities to finance equipment orders for Westinghouse Electric's flagship nuclear reactor, The Wall Street Journal reported, citing the Energy Department and comments from Energy Secretary Chris Wright.The Department of Energy said the loans are intended to accelerate construction of 10 reactors in the US, and five loans will be available for projects with two reactors each, according to the report.The Department of Energy did not 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: $47.21, Change: $-0.05, Percent Change: -0.10%

$BAM$CCJ

Showing 1-20 of 42

Track with the FINWIRES app suite

FolioX
FolioX
Track BAM in your portfolio
WheelAI
WheelAI
Analyze BAM options with the wheel strategy
StockInsider
StockInsider
See market sentiment on BAM