Sector Update: Financial Stocks Ease Thursday Afternoon
Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index easing 0.1%, erasing earlier gains, and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.6%.The Philadelphia Housing Index jumped 3.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.2%.Bitcoin (BTC-USD) fell 5% to $62,532, and the yield for 10-year US Treasuries dropped 2.2 basis points to 4.44%.In economic news, US initial jobless claims last week fell to 226,000 from an upwardly revised 230,000 in the previous week, compared with expectations for 225,000 in a survey of analysts compiled by Bloomberg.In corporate news, Apollo Global Management (APO) made some concessions regarding its debt refinancing for photo-services company Shutterfly in a bid to entice some unwilling investors, Bloomberg reported. Apollo shares fell 0.7%.First Carolina Financial Services (FCBM) shares rose 2.8% in their New York Stock Exchange debut. The holding company for First Carolina Bank priced its IPO of 5.5 million shares at $12.50 each.Accenture (ACN) shares fell 18% after the company trimmed the top end of its full-year revenue outlook and posted weaker-than-expected fiscal Q3 sales, while announcing three cybersecurity acquisitions totaling about $4.18 billion.
