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Blackstone

Blackstone

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203 stories mentioning BlackstoneUpdated 5h ago

An alternative-investment manager whose peers Blue Owl, Ares and Golub are targeting a $500 billion opportunity in Mexico's pension pool, per reports.

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Wire

Blackstone Affiliates Plan Sale of 25% Stake in Knowledge Realty Trust

Blackstone (BX) affiliates are looking to sell an approximately 25% stake in India-based Knowledge Realty Trust, according to a filing with the Bombay Stock Exchange.The stake proposed for sale represents 1.11 billion units.The four affiliates will initially offer 740 million units, or 16.69% of the trust's unit capital, with an option to sell an additional 370 million units. The floor price has been set at 108 Indian rupees ($1.13) per unit.The offer will open Monday for non-retail investors and Tuesday for retail investors and for non-retail investors who choose to carry forward their unallotted bids.Price: $144.71, Change: $+1.07, Percent Change: +0.74%

$BX
Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales
US Markets

Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales

Nvidia's (NVDA) fiscal second-quarter results more than doubled from a year ago and topped Wall Street expectations amid record data center sales.The technology bellwether's revenue climbed 106% annually to $96.22 billion, exceeding the consensus on FactSet indicating $92.27 billion. Adjusted per-share earnings increased to $2.22 in the three months ended July 26 from $1.01 a year earlier. Analysts expected $2.11.Data center revenue jumped 117% to a record $89.02 billion, driven by its Blackwell Ultra graphics processing unit infrastructure, Chief Financial Officer Colette Kress said. Consensus pointed to $86.30 billion in data center sales."AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue," Chief Executive Jensen Huang said in a statement. "The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment."Vera Rubin is Nvidia's next-generation AI supercomputing platform.Hyperscale revenue rallied 102% from the prior-year quarter, while the AI cloud, industrial and enterprise segment surged 138%."Nvidia has become both the largest direct beneficiary and one of the best real-time indicators of AI infrastructure investment," Ivan Feinseth, chief market strategist at Tigress Financial Intelligence, said in a note to clients this week.For the fiscal third quarter, the company expects consolidated revenue of $108 billion, plus or minus 2%. Wall Street expects $104.86 billion.Wedbush Analyst Matt Bryson expected Nvidia's third-quarter revenue guidance to top expectations, according to a note sent to clients ahead of Wednesday's release. Bryson reiterated his outperform rating and a $330 price target on the company."We again expect (Nvidia) to exceed its guidance and to guide October above Street, given a strong hyperscale spending backdrop that firmed further through (second-quarter) earnings, and a supply position we continue to view as the best in the industry at a point where component and material access, not end demand, is defining shipments," the analyst said.The chipmaker's stock slipped 0.3% in after-hours trading, and had gained about 12% this year through Wednesday close.Earlier in August, Nvidia said it partnered with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Those six firms are Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR).Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.In August, chipmaker Advanced Micro Devices (AMD) posted fiscal second-quarter results that beat estimates and issued third-quarter revenue guidance above Wall Street's views.Intel's (INTC) second-quarter results topped analysts' consensus in July. Semiconductor manufacturer Broadcom (AVGO) is scheduled to report fiscal third-quarter results Sept. 2.

$AMD$APO$AVGO$BAM$BLK$BX$GS$INTC$KKR$NVDA
Sectors

Sector Update: Financial Stocks Mixed Late Afternoon

Financial stocks were mixed in late Wednesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF (XLF) slightly lower.The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was easing 0.6% to $78,451, and the yield for 10-year US Treasuries rose 2.1 basis points to 4.66%.In economic news, the headline personal consumption expenditure price index rose by 0.2% in July, following a 0.1% decline in the prior month, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print.The Fed's preferred core measure, which excludes food and energy, climbed 0.2%, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.Separately, US economic growth, measured by gross domestic product, rose by 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP rose by 2.1% in Q1. New orders for US durable goods rose 1.1% in July, up from 0.5% in the previous month, compared with expectations of a smaller increase of 0.5% in a survey compiled by Bloomberg.In corporate news, Victory Capital (VCTR) shares gained 4.6% after the firm said it has agreed to buy First Eagle Investments, a privately held global asset manager, for about $7 billion.StepStone (STEP) shares rose 0.1% after it said Wednesday it secured $1.7 billion in capital commitments for StepStone Secondaries Infrastructure Fund and related separate accounts.Blackstone (BX) has received European Commission approval to acquire joint control of Eurowind Energy alongside Denmark's Norlys and EWE Holding, the Commission said. Blackstone shares were down 0.2%.Major banks, including JPMorgan Chase (JPM), are becoming more open to launching their own stablecoins despite earlier doubts about demand, The Wall Street Journal reported. JPMorgan shares were little changed.

$BX$JPM$STEP$VCTR
Sectors

Sector Update: Financial Stocks Mixed Wednesday Afternoon

Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index fractionally higher and the State Street Financial Select Sector SPDR ETF (XLF) slightly lower.The Philadelphia Housing Index was down 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.4%.Bitcoin (BTC-USD) was declining 0.7% to $78,009, and the yield for 10-year US Treasuries was adding 2.5 basis points to 4.664%.In economic news, the headline personal consumption expenditure price index rose by 0.2% in July, following a 0.1% decline in the prior month, the Bureau of Economic Analysis reported Wednesday. That's above the consensus for a 0.1% gain in a Bloomberg-compiled survey, keeping the annual headline rate at 3.7%, which also exceeded the expected 3.6% print.The Fed's preferred core measure, which excludes food and energy, climbed 0.2%, as expected. That's faster than the June print of 0.1%. The annual core gauge held steady at 3.3%, as projected.Separately, US economic growth, measured by gross domestic product, rose by 1.5% in Q2, unrevised from the advance estimate released last month, as expected in a survey compiled by Bloomberg. GDP rose by 2.1% in Q1. New orders for US durable goods rose 1.1% in July, up from 0.5% in the previous month, compared with expectations of a smaller increase of 0.5% in a survey compiled by Bloomberg.In sector news, California Senate Democrats are backing a proposal that would not limit insurers from suing utility companies to recover wildfire-related payouts to policyholders, Bloomberg reported Tuesday, citing a proposal. The measure puts lawmakers at odds with Governor Gavin Newsom, who is pushing changes to how financial responsibility is assigned for wildfires caused by equipment owned by publicly traded utilities, Bloomberg said.In corporate news, Victory Capital (VCTR) shares gained 4.3% after the firm said it has agreed to buy First Eagle Investments, a privately-held global asset manager, for about $7 billion.WisdomTree (WT) continues to benefit from strong assets under management inflows and recent strategic acquisitions, supporting a more favorable valuation outlook, Oppenheimer said in a note. WisdomTree shares rose 1.9%.Blackstone (BX) has received European Commission approval to acquire joint control of Eurowind Energy alongside Denmark's Norlys and EWE Holding, the Commission said. Blackstone shares were down 0.2%.

$BX$VCTR$WT
Sectors

Sector Update: Financial Stocks Edge Higher Pre-Bell Wednesday

Financial stocks were edging higher pre-bell Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was slightly higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.2%.UP Fintech (TIGR) stock was down more than 1% after the company reported lower Q2 non-GAAP earnings.Victory Capital (VCTR) signed a definitive deal to acquire privately held global asset manager First Eagle Investments from Genstar Capital and First Eagle employees for about $7 billion, according to a statement. Shares of Victory Capital were 0.6% higher premarket.Blackstone (BX) has received European Commission approval to acquire joint control of Eurowind Energy alongside Denmark's Norlys and EWE Holding, the Commission said. Blackstone stock was 0.3% lower pre-bell.

$BX$FAS$FAZ$TIGR$VCTR$XLF
Commodities

European Commission Approves Eurowind Acquisition and Ineos-Sinopec Joint Venture

The European Commission has cleared two major energy transactions under EU merger rules on Wednesday greenlighting joint control of Eurowind Energy and a new Ineos-Sinopec venture.The commission cleared both deals via its simplified merger review procedure after concluding they raise no competition concerns.The first decision greenlights the acquisition of joint control over Danish renewable developer Eurowind Energy by fellow Danish entities Norlys and EWE Holding, alongside US-based Blackstone (BX).The transaction focuses on the development, construction, and operation of European wind and solar farms, alongside electricity wholesale and balancing services.Simultaneously, the Commission approved a joint venture between Swiss chemical giant Ineos and China Petroleum & Chemical Corporation targeting the high-density polyethylene sector.Given the companies' limited combined market positions and minimal economic impact within the European Economic Area, both transactions cleared regulatory hurdles without opposition, it stated.

$BX
Commodities

Lancium, Nvidia Partner for AI Deployment

Lancium, an energy technology and infrastructure company, has partnered with Nvidia (NVDA) to connect its power-secured artificial intelligence campuses, currently with 4 gigawatts of leased capacity, to Nvidia's AI ecosystem, it said on Monday.Lancium, a Blackstone (BX) portfolio company, also has a development pipeline exceeding 15 GW. Nvidia will deploy its AI factory platform, including accelerated computing, networking, and software, to Lancium's AI campuses, according to the statement.The collaboration is expected to increase customer access to "large-sale, power-ready capacity for demanding AI workloads," the statement said.Nvidia has also made a "strategic" investment in Lancium for an undisclosed amount.

$BX$NVDA
Wire

Top Midday Stories: Broadcom Said to be in Talks to Raise Up to $100 Billion for Chip Financing Deal; Nvidia Reportedly Eyes Investment in Cloverleaf

All three major US stock indexes were up in late-morning trading Friday despite long-dated Treasury yields continuing their ascent.In company news, Broadcom (AVGO) is in talks with a group of lenders to raise as much as $100 billion in debt for an AI chip financing deal, Bloomberg reported late Thursday, citing people with knowledge of the matter. The proposed financing could include a senior-secured tranche of $60 billion to $70 billion that Broadcom would partially guarantee, along with a roughly $30 billion junior debt tranche, the report said. Blackstone (BX) and Apollo Global Management (APO) are in talks with Broadcom to participate the deal, which is expected to help companies like Anthropic gain access to chips and other AI infrastructure, the report said. Broadcom shares were up 1.3% around midday.Nvidia (NVDA) is in advanced talks to invest in data center power developer Cloverleaf Infrastructure, with an announcement possible coming as soon as Friday, The Wall Street Journal reported, citing people familiar with the deal. The AI giant is expected to invest several hundred million dollars, though the exact deal terms couldn't be learned, the report said, citing the people. Separately, Nvidia denied an early report by The Information that it intends to start shipping a language processing unit customized for Chinese customers by the end of the year. Also, the company and South Korean AI chip designer Rebellions are in preliminary talks about potential collaborations, Bloomberg reported Friday, citing people familiar with the matter. Lastly, Nvidia has agreed to pay $6 billion to license AI model-development software from Poolside and hire 109 workers involved in developing its Laguna AI model, The Information reported late Thursday, citing a Newcomer report. Nvidia shares were down 0.1%.Walmart (WMT) said Friday it will add Tap to Pay technology to payment options at some Walmart stores and Sams Club locations starting Monday. The retail giant will roll out the feature to all US stores and clubs by the end of the year and to fuel stations by the middle of next year, it said. Walmart shares were down 1.0%.Apple (AAPL) paid $17 billion in taxes to Ireland in 2025, 40% of its worldwide total and driven significantly by an EU court order in 2024 requring the tech giant to pay 13 billion euros ($15.19 billion) in back taxes, the Financial Times reported Friday, citing filings. The EU's top court ruled that Ireland had granted Apple "unlawful aid" that resulted in a tax rate of under 1%, the report said. Apple shares were nearly flat.Price: $368.75, Change: $+4.72, Percent Change: +1.30%

$AAPL$APO$AVGO$BX$NVDA$WMT
Wire

Market Chatter: Anthropic Joint Venture Buys AI Consultant Casper Studios

Ode, the joint venture created by Amazon-backed (AMZN) Anthropic and Wall Street firms like Blackstone (BX) is buying AI consultancy Casper Studios, its first acquisition since its July launch, The Information reported Thursday, citing an interview with Ode Chief Executive Chris Taylor.Ode 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: $262.99, Change: $-2.85, Percent Change: -1.07%

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Wire

Anthropic Joint Venture Buys AI Consultant Casper Studios, The Information Reports

Anthropic Joint Venture Buys AI Consultant Casper Studios, The Information Reports

$AMZN$BX
Sectors

Sector Update: Financial Stocks Softer Wednesday Afternoon

Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.2%.The Philadelphia Housing Index was climbing 3.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was increasing 2.8% to $66,470, and the yield for 10-year US Treasuries was dropping 4.4 basis points to 4.662%.In economic news, the US Treasury Department said it was raising the cap on its buyback operations for longer-dated nominal coupon securities to at least $4 billion per operation from $2 billion, effective Sept. 9.US mortgage applications fell by 0.4% in the week ended Aug. 14, with an increase in refinancing activity offset by a decline in home purchase applications, according to Mortgage Bankers Association data released Wednesday.In corporate news, BlackRock's (BLK) private credit division HPS Investment Partners and Oaktree Capital are among the creditors that seized control of production equipment supplier MBS Group last week, after the latter defaulted on its debt, the Financial Times reported. BlackRock shares were up 1.3%.The Canada Pension Plan Investment Board is pursuing infrastructure deals via private deals with KKR (KKR), Blackstone (BX), and BlackRock (BLK) rather than relying solely on direct investments, the Financial Times reported. KKR shares rose 3.4%, and Blackstone was up 3.2%.Progressive (PGR) shares added nearly 4% after it reported that net premiums earned in July were $7.36 billion, up from $6.99 billion a year earlier.

$BLK$BX$KKR$PGR
Sectors

Sector Update: Financial Stocks Mixed Tuesday

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.

$BX$GS$KKR$KLAR
Sectors

Sector Update: Financial Stocks Mixed Tuesday Afternoon

Financial stocks were mixed in Tuesday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.The Philadelphia Housing Index was falling 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.3%.Bitcoin (BTC-USD) was increasing 0.4% to $64,735, and the yield for 10-year US Treasuries was declining 1.2 basis points to 4.712%.In economic news, the 30-year government bond yield hovered close to levels seen around the 2007 global financial crisis. The 30-year yield hovered at around 5.29% after touching 5.34% intraday, the highest since 2007. The increase in the 30-year yield to a 19-year high comes amid concerns that an imminent escalation in the Middle East sent Brent crude prices above $90 a barrel and will fan fears of inflation, according to a D.A. Davidson research note Tuesday.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. Anthropic's proposed expansion of its revolver is drawing banks seeking to boost their odds for roles in the IPO, the report said. Talks are ongoing, and the company may opt to limit the size of the revolver to the target or below, the report said.In corporate news, KKR (KKR) has offered to buy natural-gas and electricity distributor UGI (UGI) for $42.50 a share, or roughly $9 billion, The Wall Street Journal reported. KKR shares were down 1.4%.Goldman Sachs (GS) agreed to buy commercial real estate investor LCN Capital Partners for up to $410 million, Bloomberg reported, citing Marc Nachmann, head of Goldman's wealth- and asset-management division. Goldman shares were shedding 1.6%.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 down 0.6%.

$BX$GS$KKR
Wire

Market Chatter: Blackstone-Backed QTS Commences Bond Sale to Fund Data Center Construction

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 Tuesday, citing a person familiar with the matter.The initial price talk on the five-year notes is for a yield of roughly 7.63%, while the financing is expected to be about $3.9 billion, or around $1 billion more than the size initially floated to investors, the report said, citing the person.Citigroup (C), Goldman Sachs (GS), JPMorgan Chase (JPM) and Morgan Stanley (MS) are running the sale, the person reportedly said.QTS 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: $141.07, Change: $+0.50, Percent Change: +0.35%

$BX$MSFT
Wire

Blackstone-Backed QTS Commences Bond Sale to Fund Data Center Construction, Bloomberg Reports

Blackstone (BX)Price: $140.85, Change: $+0.28, Percent Change: +0.20%

$BX$MSFT
Nvidia Poised for Strong Quarterly Results, Outlook, UBS Says
US Markets

Nvidia Poised for Strong Quarterly Results, Outlook, UBS Says

Nvidia (NVDA) is likely to post strong fiscal second-quarter results and issue an upbeat sales outlook as Vera Rubin begins to ramp, UBS Securities said Friday.The brokerage raised its second-quarter earnings outlook for the chipmaking giant to $2.13 a share from $2.09 and its revenue estimate to $93.55 billion from $91.91 billion. UBS projects third-quarter revenue in a range of $107 billion to $108 billion."Blackwell is holding stable, with Rubin units starting to layer in ahead of what should be a more substantial revenue step-up in (the fourth quarter), as Rubin sell-in accelerates toward (roughly 500,000 graphics processing unit) units/month and Blackwell starts to wind down," UBS analysts Timothy Arcuri and Natalia Winkler said in a note to clients Friday.Vera Rubin is Nvidia's next-generation artificial intelligence computing platform designed for large-scale agentic AI and advanced reasoning workloads.In a note to clients earlier this month, BofA Securities said it expected Nvidia to deliver a second-quarter revenue beat and issue an upbeat guidance amid Vera Rubin shipments and "solid" cloud capital expenditure trends.Recently, Amazon.com (AMZN) increased its full-year CapEx guidance, while Meta Platforms (META) raised the lower end of its own outlook range for the metric. Microsoft (MSFT) said it anticipated CapEx in its fiscal 2027 to increase year over year, while Alphabet (GOOG, GOOGL) indicated rising AI capital spending."Because the vast majority of hyperscaler CapEx increase this year is due mostly to memory price inflation, compute supply growth is even further from keeping pace with demand," Acuri and Winkler said Friday. "This is ultimately bullish for (Nvidia) and as a result, we may hear about another significant stair-step in backlog on this earnings call."Earlier this week, Nvidia signed memorandums of understanding with six major financial institutions, including Goldman Sachs (GS), BlackRock (BLK), Blackstone (BX) and KKR (KKR), to raise more than $500 billion in third-party capital for the development of AI infrastructure.UBS expects this to help address "demand durability concerns by unlocking substantial infrastructure capital, underscoring both the financeability of AI compute and the strength of (Nvidia's) ecosystem."The company's shares were little changed in Friday afternoon trade. The stock has jumped nearly 21% so far in 2026.Coming out of Nvidia's upcoming earnings call, UBS expects investors to gain "greater confidence" in a path to EPS of more than $15 in 2027 and $20 in 2028 -- "numbers that should keep the stock grinding higher," the analysts wrote.The technology bellwether company is scheduled to report results Aug. 26.Price: $225.37, Change: $+0.07, Percent Change: +0.03%

$AMZN$BLK$BX$GOOG$GOOGL$GS$KKR$META$MSFT$NVDA
Insider Trading

Blackstone Insider Sold Shares Worth $6,620,111, According to a Recent SEC Filing

John G Finley, Chief Legal Officer, on August 11, 2026, sold 45,000 shares in Blackstone (BX) for $6,620,111. Following the Form 4 filing with the SEC, Finley has control over a total of 613,540 common shares of the company, with 516,017 shares held directly and 97,523 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1393818/000119312526347284/xslF345X05/ownership.xml

$BX
Insider Trading

Blackstone Insider Sold Shares Worth $1,379,685, According to a Recent SEC Filing

David Payne, Chief Accounting Officer, on August 11, 2026, sold 9,500 shares in Blackstone (BX) for $1,379,685. Following the Form 4 filing with the SEC, Payne has control over a total of 64,448 common shares of the company, with 64,448 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1393818/000119312526347283/xslF345X05/ownership.xml

$BX
Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index up 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.3%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.8%.Bitcoin (BTC-USD) was easing 0.3% to $63,316, and the yield for 10-year US Treasuries was slightly lower at 4.68%.In economic news, the consumer price index rose 3.4% last month from a year earlier, decelerating from 3.5% in June and marking the slowest pace of growth since March, data from the Bureau of Labor Statistics showed. The annual print matched the average forecast in a Bloomberg survey. Core inflation, which excludes volatile food and energy items, eased to 2.5%, also as expected, from June's 2.6%.In corporate news, Bank of America (BAC) plans to invest $250 billion in US infrastructure through its Critical Infrastructure Finance Initiative, the company said Wednesday. The investment will be made through lending, investments, capital markets and advisory transactions over an 18-month period from Jan. 1, 2026 through July 4, 2027, the company said. Bank of America shares were up 1.3%.Goldman Sachs (GS) said Wednesday it has agreed to buy exchange-traded fund provider Neos Investments for up to $2.25 billion in cash and equity. Goldman shares eased 0.1%.Blackstone (BX) is considering abandoning plans to raise about $3 billion of debt to return some cash to investors, Bloomberg reported. The firm has struggled to find a buyer for the equity portion of the deal, which is typically the riskiest part, Bloomberg reported. Separately, Blackstone and La Caisse are leading a 2.5 billion Canadian dollar ($1.8 billion) minority equity investment in Air Canada's Aeroplan loyalty program, valuing the business at CA$10 billion, the airline said Tuesday. Blackstone shares were down 0.4%.Charles Schwab (SCHW) said Wednesday that its unit Charles Schwab Futures & Forex has launched single stock futures for more than 50 US stocks in the S&P 500 and Nasdaq-100. Charles Schwab shares rose 1.7%.

$BAC$BX$GS$SCHW
Wire

Sector Update: Financial Stocks Mixed Wednesday Afternoon

Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index up 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally lower.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.8%.Bitcoin (BTC-USD) was easing 0.1% to $63,442, and the yield for 10-year US Treasuries was slightly lower at 4.676%.In economic news, the consumer price index rose 3.4% last month from a year earlier, decelerating from 3.5% in June and marking the slowest pace of growth since March, data from the Bureau of Labor Statistics showed. The annual print matched the average forecast in a Bloomberg survey. Core inflation, which excludes volatile food and energy items, eased to 2.5%, also as expected, from June's 2.6%.In sector news, FIFA World Cup 2026 wagers helped double predictions market platform Kalshi's revenue to a more than $4 billion annualized rate last month, The Information reported. Kalshi is in late-state talks to raise fresh funding at a valuation of about $40 billion, the unnamed source told the news outlet, adding that the firm's operating expenses reached $300 million for June.In corporate news, Bank of America (BAC) plans to invest $250 billion in US infrastructure through its Critical Infrastructure Finance Initiative, the company said Wednesday. The investment will be made through lending, investments, capital markets and advisory transactions over an 18-month period from Jan. 1, 2026 through July 4, 2027, the company said. Bank of America shares were up 0.9%.Goldman Sachs (GS) said Wednesday it has agreed to buy exchange-traded fund provider Neos Investments for up to $2.25 billion in cash and equity. Goldman shares were up 0.4%.Blackstone (BX) is considering abandoning plans to raise about $3 billion of debt to return some cash to investors, Bloomberg reported. The firm has struggled to find a buyer for the equity portion of the deal, which is typically the riskiest part, Bloomberg reported. Separately, Blackstone and La Caisse are leading a 2.5 billion Canadian dollar ($1.8 billion) minority equity investment in Air Canada's Aeroplan loyalty program, valuing the business at CA$10 billion, the airline said Tuesday. Blackstone shares were down 1%.

$BAC$BX$GS

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