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Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks rose in late Friday afternoon trading, with the NYSE Financial Index increasing 1.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.4%.The Philadelphia Housing Index was up 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.7%.Bitcoin (BTC-USD) was increasing 0.2% to $63,705, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.48%.In economic news, US consumer sentiment has rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's preliminary survey showed Friday. The main sentiment index rose 9.2% sequentially to 48.9 this month, following three consecutive drops. The consensus was for a 46 print in a Bloomberg poll.In sector news, US banking regulators are ramping up their review of the use of AI in financial services, along with its potential risks, Reuters reported. The US Federal Reserve and the Office of the Comptroller of the Currency have started asking banks to detail their use of AI in lending and customer checks, among other processes, during routine bank assessments, the report said.In corporate news, Robinhood (HOOD) saw heavy traffic Friday, leading to latency and intermittent issues for some customers, the company's official help account said in a post on X. Essential systems have recovered and teams are closely monitoring the situation, according to the social media post. Robinhood shares rose 1.4%.Vanguard has surpassed BlackRock (BLK) to become the largest exchange-traded fund issuer in the US, with about $4.39 trillion in assets across its US-listed ETFs, Bloomberg reported. The milestone follows approximately $13 billion in net inflows in the latest session, pushing Vanguard's ETF assets above the roughly $4.36 trillion managed by BlackRock, the report said. BlackRock shares were up 1.6%.BlackRock and State Street Investment Management (STT) are facing fresh competition as New York City's pension system opens a bidding process for about $92 billion of stock index funds the two firms currently oversee, Bloomberg reported. BlackRock manages about $65 billion of the passive equity portfolio and State Street about $27 billion, the report said. State Street shares rose 1.5%.HSBC (HSBC) has roughly $400 million of exposure to IFFCO, a consumer goods company in the Middle East that has struggled for months to restructure about $2 billion in debt, Bloomberg reported. HSBC shares were rising 2.1%.

$BLK$HOOD$HSBC$STT
Sectors

Sector Update: Financial Stocks Higher Friday Afternoon

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.1%.The Philadelphia Housing Index was up 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.8%.Bitcoin (BTC-USD) was increasing 0.5% to $63,887, and the yield for 10-year US Treasuries was rising 2 basis points to 4.483%.In economic news, US consumer sentiment has rebounded in June as gasoline prices eased, while the inflation outlook dropped, the University of Michigan's preliminary survey showed Friday. The main sentiment index rose 9.2% sequentially to 48.9 this month, following three consecutive drops. The consensus was for a 46 print in a Bloomberg poll.In sector news, US banking regulators are ramping up their review of the use of AI in financial services, along with its potential risks, Reuters reported. The US Federal Reserve and the Office of the Comptroller of the Currency have started asking banks to detail their use of AI in lending and customer checks, among other processes, during routine bank assessments, the report said.In corporate news, Robinhood (HOOD) saw heavy traffic Friday, leading to latency and intermittent issues for some customers, the company's official help account said in a post on X. Essential systems have recovered and teams are closely monitoring the situation, according to the social media post. Robinhood shares rose 0.6%.Vanguard has surpassed BlackRock (BLK) to become the largest exchange-traded fund issuer in the US, with about $4.39 trillion in assets across its US-listed ETFs, Bloomberg reported. The milestone follows approximately $13 billion in net inflows in the latest session, pushing Vanguard's ETF assets above the roughly $4.36 trillion managed by BlackRock, the report said. BlackRock shares were up 0.9%.HSBC (HSBC) has roughly $400 million of exposure to IFFCO, a consumer goods company in the Middle East that has struggled for months to restructure about $2 billion in debt, Bloomberg reported. HSBC shares were rising 1.7%.

$BLK$HOOD$HSBC
Wire

Market Chatter: HSBC May Have $400 Million Exposure to Struggling UAE Firm IFFCO

HSBC (HSBC) has roughly $400 million of exposure to IFFCO Group, a leading consumer goods company in the Middle East that has struggled for months to restructure about $2 billion in debt, Bloomberg reported Friday, citing people familiar with the matter.HSBC is IFFCO's top creditor, the people reportedly said.HSBC 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: $92.09, Change: $+1.37, Percent Change: +1.51%

$HSBC
Wire

HSBC May Have $400 Million Exposure to Struggling UAE Firm IFFCO, Bloomberg Reports

HSBC May Have $400 Million Exposure to Struggling UAE Firm IFFCO, Bloomberg Reports

$HSBC
Asia Markets

European Equities Traded in US as ADRs Rise in Thursday Trading

European equities traded in the US as American depositary receipts rose late Thursday morning with the S&P Europe Select ADR Index climbing 1.7% to 1,874.97.From continental Europe, the gainers were led by biopharmaceutical company argenx (ARGX) and semiconductor company Sequans Communications (SQNS), which rose 2.7% and 2.6%, respectively. They were followed by biotech firm BioNTech (BNTX) and telecommunications company Nokia (NOK), which were up 2.5% and 1.6%, respectively.The decliners from continental Europe were led by software firm SAP (SAP) and internet ad firm Criteo (CRTO), which dropped 4.1% and 0.9%, respectively. They were followed by biotech firm Evaxion (EVAX) and consumer goods company Unilever (UL), which were off 0.4% and 0.1%, respectively.The gainers from the UK were led by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which climbed 8.8% and 4%, respectively. They were followed by lender HSBC (HSBC) and biotech firm Autolus Therapeutics (AUTL), which advanced 2.8% and 2.7%, respectively.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and software company Endava (DAVA), which fell 4.6% and 1.1%, respectively. They were followed by biopharmaceutical companies Mereo BioPharma Group (MREO) and NuCana (NCNA), which lost 0.9% and 0.8%, respectively.

$ARGX$AUTL$BDRX$BNTX$CRTO$DAVA$EVAX$HSBC$MREO$NCNA$NOK$SAP$SLN$SQNS$TRIB$UL
Asia Markets

European Equities Traded in the US as American Depositary Receipts Track Higher in Tuesday Trading

European equities traded in the US as American depositary receipts were trending higher late Tuesday morning, rising 0.80% to 1,882.97 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and semiconductor company Sequans Communications (SQNS), which rose 3.8% and 3.7% respectively. They were followed by healthcare tech company Royal Philips (PHG) and biopharmaceutical company Grifols (GRFS), which were up 2.9% and 2.5% respectively.The decliners from continental Europe were led by telecommunications company Ericsson (ERIC) and petroleum refiner Equinor (EQNR), which dropped 5% and 2.6% respectively. They were followed by telecommunications company Nokia (NOK) and SAP (SAP), which lost 1.5% and 1% respectively.The gainers from the UK were led by communications company WPP (WPP) and biopharmaceutical company Amarin (AMRN), which advanced 7.9% and 5.6% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and biopharmaceutical company Akari Therapeutics (AKTX), which increased 5.1% and 2.7% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and oil and gas company BP (BP), which fell 2.2% and 1.8% respectively. They were followed by oil and gas company Shell (SHEL) and lender HSBC (HSBC), which were down 1.3% and 1.1% respectively.

$AKTX$AMRN$BDRX$BP$CLLS$EQNR$ERIC$GRFS$HSBC$NOK$PHG$SAP$SHEL$SLN$SQNS$WPP
Asia Markets

European Equities Traded in the US as American Depositary Receipts Rise in Thursday Trading

European equities traded in the US as American depositary receipts were tracking higher late Thursday morning, advancing 0.79% to 1,889.50 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biotech firm Evaxion (EVAX) and software company SAP (SAP), which climbed 10.5% and 5.9% respectively. They were followed by pharmaceutical company Sanofi (SNY) and accommodations booking site trivago (TRVG), which advanced 4.9% and 4.5% respectively.The decliners from continental Europe were led by telecommunications company Nokia (NOK) and semiconductor company Sequans Communications (SQNS), which were down 4.1% and 1.3% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and biopharmaceutical company Cellectis (CLLS), which fell 0.7% and 0.3% respectively.The gainers from the UK were led by biotech company Autolus Therapeutics (AUTL) and communications company WPP (WPP), which rose 7.1% and 5.5% respectively. They were followed by biopharmaceutical company Akari Therapeutics (AKTX) and software firm Endava (DAVA), which were up 3.8% and 1.6% respectively.The decliners from the UK and Ireland were led by insurance company Prudential (PUK) and mining company BHP Group (BHP), which dropped 7.1% and 2.4% respectively. They were followed by lender HSBC (HSBC) and oil and gas company Shell (SHEL), which lost 1.6% and 0.3% respectively.

$AKTX$AUTL$BHP$CLLS$DAVA$DBVT$EVAX$HSBC$NOK$PUK$SAP$SHEL$SNY$SQNS$TRVG$WPP
Wire

Market Chatter: HSBC, Standard Chartered, Prudential Slide on China Offshore Account Restrictions Report

Shares of HSBC (HSBC), Standard Chartered and Prudential fell in London on Thursday after a report said mainland Chinese residents are facing greater constraints on opening offshore investment accounts through major Hong Kong banks.The South China Morning Post reported that the Shanghai branch of Bank of East Asia suspended its witness service for opening Hong Kong investment accounts, amid tighter oversight of capital outflows by Chinese authorities.The report also said the Hong Kong Monetary Authority instructed banks to require customers to declare that funds used in investment accounts originated outside mainland China.While HSBC staff in Shanghai told the news outlet that witness services remain available, they cautioned that funds deposited into investment accounts must comply with Hong Kong regulatory requirements.HSBC, Standard Chartered and Prudential did not immediately respond to' requests 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: $91.50, Change: $-2.14, Percent Change: -2.29%

$HSBC
Asia Markets

European Equities Traded in the US as American Depositary Receipts Rise in Friday Trading; Flat for Week

European equities traded in the US as American depositary receipts were rising late Friday morning, up 0.61% to 1,880.61 on the S&P Europe Select ADR Index, which is nearly flat for the week so far.From continental Europe, the gainers were led by medical device maker EDAP TMS (EDAP) and biotech firm BioNTech (BNTX), which rose 4.3% and 3% respectively. They were followed by software company SAP (SAP) and internet advertising firm Criteo (CRTO), which were up 2% and 0.4% respectively.The decliners from continental Europe were led by pharmaceutical company Ascendis Pharma (ASND) and telecommunications company Nokia (NOK), which fell 7.3% and 3% respectively. They were followed by accommodations booking site trivago (TRVG) and biopharmaceutical company Cellectis (CLLS), which were off 0.9% and 0.8% respectively.The gainers from the UK were led by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and communications company WPP (WPP), which advanced 2.4% and 1.1% respectively. They were followed by lenders Barclays (BCS) and HSBC (HSBC), which increased 1% and 0.9% respectively.The decliners from the UK and Ireland were led by biopharmaceutical companies Mereo BioPharma Group (MREO) and NuCana (NCNA), which dropped 6.6% and 4.4% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and tobacco company British American Tobacco (BTI), which lost 3.5% and 1.8% respectively.

$ASND$BCS$BDRX$BNTX$BTI$CLLS$CRTO$EDAP$HSBC$MREO$NCNA$NOK$SAP$SLN$TRVG$WPP
Sectors

Sector Update: Financial Stocks Decline Thursday Afternoon

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.4%.The Philadelphia Housing Index eased 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.1%.Bitcoin (BTC-USD) was falling 1.3% to $73,337, and the yield for 10-year US Treasuries was down 3 basis points at 4.45%.In economic news, on a month-on-month basis, the personal consumption expenditures, or PCE, price index slowed to 0.4% in April from 0.7% in the previous month, Bureau of Economic Analysis data showed Thursday. The Street expected 0.5%. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised lower from a 2.0% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg. GDP rose by 0.5% in Q4.New orders for US durable goods rose by 7.9% in April following a 1.3% increase in March, beating the 4.0% gain forecast in a survey compiled by Bloomberg.In corporate news, MetLife (MET) and Ares Management (ARES) are at odds over restructuring of Eagle Football Group's debt, Bloomberg reported. Ares, which has provided more than $400 million in financing to Eagle Football, is trying loan restructuring while MetLife is being told to wait longer to get paid back, the report said. MetLife shares were down 1.2%, and Ares rose 0.3%.Cambridge University is pulling out funds from HSBC (HSBC), Barclays (BCS), and other institutions that continue to finance fossil fuels, Bloomberg reported. HSBC shares fell 1.5%, and Barclays was down 0.8%.Apollo Global Management (APO) and other investment firms, including Angelo Gordon and Oaktree Capital, are facing a lawsuit from a rival creditor group alleging they planned illicit financing deals to take collateral from chemical manufacturer Trinseo, The Wall Street Journal reported. Apollo shares were shedding 0.7%.

$APO$ARES$BCS$HSBC$MET
Asia Markets

European Equities Traded in the US as American Depositary Receipts Edge Lower Thursday

European equities traded in the US as American depositary receipts were trending slightly lower late Thursday morning, declining 0.1% to 1,873.2 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by internet advertising firm Criteo (CRTO) and medical device maker EDAP TMS (EDAP), which rose 3.3% and 3.2% respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and software firm SAP (SAP), which were up 2.8% and 1.2% respectively.The decliners from continental Europe were led by telecommunications company Nokia (NOK) and brewing company Anheuser-Busch InBev (BUD), which fell 2.5% and 1.4% respectively. They were followed by biopharmaceutical company Grifols (GRFS) and biotech firm BioNTech (BNTX), which were down 1.1% and 0.3% respectively.The gainers from the UK were led by biopharmaceutical company Akari Therapeutics (AKTX) and biotech firm Autolus Therapeutics (AUTL), which advanced 43.9% and 1.5% respectively. They were followed by communications company WPP (WPP) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which increased 0.9% and 0.3% respectively.The decliners from the UK and Ireland were led by pharmaceutical company Silence Therapeutics (SLN) and insurance company Prudential (PUK), which dropped 4.2% and 2.3% respectively. They were followed by lender HSBC (HSBC) and biopharmaceutical company Amarin (AMRN), which lost 2% and 0.6% respectively.

$AKTX$AMRN$AUTL$BDRX$BNTX$BUD$CLLS$CRTO$EDAP$GRFS$HSBC$NOK$PUK$SAP$SLN$WPP
Sectors

Sector Update: Financial Stocks Lean Lower Premarket Thursday

Financial stocks were leaning lower premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% higher.Cambridge University is pulling out funds from HSBC (HSBC), Barclays (BCS), and other institutions that continue to finance fossil fuels, Bloomberg reported, citing sources familiar with the matter. HSBC shares were down more than 2% and Barclays stock fell past 1% pre-bell.Banco Macro (BMA) shares were down more than 1% after the company reported Q1 net income that missed analysts' expectations.Toronto-Dominion Bank (TD) stock was marginally advancing after the company posted higher fiscal Q2 adjusted earnings.

$BCS$BMA$FAS$FAZ$HSBC$TD$XLF
Sectors

Sector Update: Financial

Financial stocks were leaning lower premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.3% higher.Cambridge University is pulling out funds from HSBC (HSBC), Barclays (BCS), and other institutions that continue to finance fossil fuels, Bloomberg reported, citing sources familiar with the matter. HSBC shares were down more than 2% and Barclays stock was fell past 1% pre-bell.

$BCS$HSBC
Asia Markets

Fresh Military Strikes Between US, Iran Drag US Equity Futures Pre-Bell

US equity futures were edging lower pre-bell Thursday as fresh US and Iranian strikes once again threatened the fragile ceasefire between the two nations, reducing optimism surrounding a potential peace deal.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% lower.The US military said it had fired on Iranian drones over the Strait of Hormuz and attacked a military site in the port city of Bandar Abbas, which is the second time in three days it has struck targets in Iran for what it called self-defense. Iran said it responded by launching an attack on an American air base in the region.Traders observed the latest round of earnings, including those of several major Canadian banks. Royal Bank of Canada (RY) reported higher fiscal Q2 adjusted earnings and revenue, while Toronto-Dominion Bank (TD) posted increased fiscal Q2 adjusted earnings amid lower revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.2% at $94.26 per barrel and US West Texas Intermediate crude 2.4% higher at $90.73 per barrel.The April core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, gained 0.2%, lower than the 0.3% increase in the prior month and the expected 0.3% gain in a survey compiled by Bloomberg.Initial jobless claims rose to 215,000 in the week ended May 23 from 210,000 level in the previous week, compared with expectations for a smaller increase to 211,000. Preliminary Q1 GDP growth was recorded at a 1.6% rise, compared with the advance estimate of a 2% increase.Durable goods new orders rose 7.9% in April after a 1.3% gain in the prior month, compared with expectations for a 4% increase.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was 0.7% lower in Europe's early afternoon session.In equities, Dell Technologies (DELL) shares were up 4.6% after the company said its unit Dell Federal Systems won a blanket purchase agreement with an overall estimated value of $9.69 billion from the US Navy under the Department of Defense Enterprise Software Initiative. Snowflake (SNOW) stock was 37% higher after the cloud-based data platform lifted its fiscal 2027 product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) Amazon Web Services. Royal Bank of Canada shares were up 1.7% after the bank reported its fiscal Q2 financial results.On the losing side, HSBC (HSBC) stock was down 2.2% after a Bloomberg News report that UK's Cambridge University was withdrawing its investments from institutions providing financial support to fossil fuels, including the British bank. AstraZeneca (AZN) shares were 0.8% lower after the company said that the US Food and Drug Administration delayed the decision deadline for its new drug application regarding a combination breast cancer treatment.

Dow JonesNasdaq CompositeS&P 500$AMZN$AZN$DELL$HSBC$RY$SNOW$TD
Commodities

Market Chatter: Cambridge University Withdraws Investments From Barclays, HSBC Over Fossil Fuel Funding

UK's Cambridge University is withdrawing its investments from institutions providing financial support to fossil fuels, including Barclays (BCS) and HSBC Holdings (HSBC), Bloomberg reported Thursday, citing sources familiar with the matter.The university has already transferred 135 million British pounds ($180.8 million) in cash and money market investments from major banks to smaller institutions, sources told Bloomberg.The move comes amidst the university's campaign to get over 80 UK academic institutions to stop using banks that support the fossil fuel industry, the report said.In 2026 alone, Barclays helped arrange about $7.4 billion in loans and bonds for fossil fuel companies, while HSBC supported around $5.3 billion in similar deals, the report said.Financing for oil, gas and coal industries is dominated by the US banks, with some big UK banks also lending support. While, net zero alliances have weakened in the US amid political backlash, UK-based lenders are regularly targeted by climate activists and also face shareholder pressure to not reconsider their green targets, the report added.HSBC, Barclays, and Cambridge University did not immediately respond to' requests 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.)

$BCS$HSBC
Sectors

Sector Update: Financial Stocks Advance Premarket Wednesday

Financial stocks were advancing premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.2% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.7% lower.Oversea-Chinese Banking handily outbid rivals in a recent deal to acquire the retail and wealth assets of HSBC (HSBC) in Indonesia, Bloomberg News reported, citing people familiar with the matter. Shares of HSBC were up more than 1% pre-bell.Visa (V) has launched its agentic-ready program in Central Europe, Middle East, and Africa to support its payment system, the company said. Visa shares were 0.3% higher premarket.JPMorgan Chase (JPM) has launched its digital savings bank, Chase, in Germany, the company said. JPMorgan Chase stock was up 0.3% pre-bell.

$FAS$FAZ$HSBC$JPM$V$XLF
Sectors

Sector Update: Financial

Financial stocks were advancing premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.2% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.7% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.6% lower.Oversea-Chinese Banking handily outbid rivals in a recent deal to acquire the retail and wealth assets of HSBC (HSBC) in Indonesia, Bloomberg News reported, citing people familiar with the matter. Shares of HSBC were up 1.6% pre-bell.

$HSBC
Sectors

Sector Update: Financial Stocks Lower in Late Afternoon Trading

Financial stocks declined in late Friday afternoon trading with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.3%.The Philadelphia Housing Index shed 3.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.5%.Bitcoin (BTC-USD) declined 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to 4.595%.In economic news, US industrial production rebounded more than projected in April, Federal Reserve data showed. Industrial output rose 0.7% last month following a revised 0.3% fall in March, the Fed said. The consensus was for a 0.3% increase for April in a survey compiled by Bloomberg.In corporate news, Apollo Global Management-backed (APO) West Technology is in exclusive talks for the sale of its remaining operating business as talks with debt holders continue, Bloomberg reported. Apollo shares dropped 0.5%.Goldman Sachs (GS) is assessing demand for a significant risk transfer linked to a portfolio of loans to private market funds, Bloomberg reported. Goldman shares fell 1.9%.HSBC (HSBC) has yet to deploy the $4 billion committed to its private credit strategy, with no current timeline for the planned investment, the Financial Times reported. HSBC shares dropped 2.1%.Mizuho Financial (MFG) shares fell 1.9% after the company issued fiscal 2026 earnings guidance that trailed Wall Street estimates.

$APO$GS$HSBC$MFG
Sectors

Sector Update: Financial Stocks Lower in Afternoon Trading

Financial stocks declined in Friday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%.The Philadelphia Housing Index was down 3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.4%.Bitcoin (BTC-USD) was declining 2.5% to $79,348, and the yield for 10-year US Treasuries jumped 12.8 basis points to 4.59%.In economic news, US industrial production rebounded more than projected in April, buoyed the manufacturing and utilities categories, Federal Reserve data showed Friday. Industrial output rose 0.7% last month following a revised 0.3% fall in March, the Fed said. The consensus was for a 0.3% increase for April in a survey compiled by Bloomberg.In corporate news, Goldman Sachs (GS) is assessing demand for a significant risk transfer linked to a portfolio of loans to private market funds, Bloomberg reported. The lender is a regular issuer of SRTs and has used them in the past to offload risk related to private funds, the report said, adding that final terms of the transaction are being discussed with investors. Goldman shares were down 1.6%.Mizuho Financial (MFG) shares fell 1.3% after it issued fiscal 2026 earnings forecast below analysts' expectations.HSBC (HSBC) has yet to deploy the $4 billion it previously committed to its private credit strategy, with no current timeline for the planned investment, the Financial Times reported. HSBC shares were down 2%.

$GS$HSBC$MFG
Sectors

Sector Update: Financial Stocks Lean Lower Pre-Bell Friday

Financial stocks were leaning lower pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.4% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.6%.HSBC (HSBC) has yet to deploy the $4 billion it previously committed to its private credit strategy, with no current timeline for the planned investment, the Financial Times reported, citing two sources familiar with the decision-making process. HSBC shares were down more than 2% premarket.Mizuho Financial (MFG) shares were down more than 2% after the company issued fiscal 2026 earnings forecast below analysts' expectations. Separately, Mizuho Financial plans to reduce its stake in Orient to about 33.8% from more than 48% by selling 15% stake, Bloomberg reported, citing the company.Nu Holdings (NU) stock was down more than 6% after the company reported Q1 revenue that missed analysts' estimates.

$FAS$FAZ$HSBC$MFG$NU$XLF

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