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Sectors

Sector Update: Financial Stocks Advance Thursday Afternoon

Financial stocks were higher in Thursday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.4%.The Philadelphia Housing Index was falling 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 1.5%.Bitcoin (BTC-USD) was increasing 1.4% to $64,775, and the yield for 10-year US Treasuries was rising 3.5 basis points to 4.657%.In economic news, the personal consumption expenditures, or PCE, price index fell 0.1% in June, as expected, cutting the year-over-year rate to 3.7% from 4.1%. The price index rose by 0.5% month-over-month in May. The core PCE price index climbed 0.1% in June, below the 0.2% gain expected and following a 0.3% growth in May. The year-over-year rate dropped to 3.3% from 3.4%, according to the Bureau of Economic Analysis.US economic growth slowed more than expected in Q2, though consumer spending seemed to shrug off intensifying price measures. Real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance estimate released Thursday by the Bureau of Economic Analysis. A survey compiled by Bloomberg indicated a slowdown to 2% from the first quarter's 2.1% rate.In corporate news, Intercontinental Exchange (ICE) agreed to buy electronic trading platform MarketAxess (MKTX) for about $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market." Intercontinental shares were down 0.1%, and MarketAxess surged 29%.Mastercard (MA) reported better-than-expected Q2 results on Thursday, buoyed by double-digit growth in cross-border volume and healthy spending. Its shares rose 2.8%.Blackstone (BX) agreed to buy a home loan portfolio in Australia from HSBC (HSBC) worth 36 billion Australian dollars ($25 billion), Bloomberg reported. Blackstone shares were down 0.5%, and HSBC gained 4.5%.

$BX$HSBC$ICE$MA$MKTX
Wire

Market Chatter: Blackstone to Buy $25 Billion Australian Home Loan Portfolio From HSBC

Blackstone (BX) agreed to buy a home loan portfolio in Australia from HSBC Holdings (HSBC) worth 36 billion Australian dollars ($25 billion), Bloomberg reported Thursday, citing people familiar with the matter.The companies are expected to announce the deal as soon as Friday, the report said.Blackstone and HSBC didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $128.31, Change: $-1.09, Percent Change: -0.84%

$BX$HSBC
Wire

Blackstone Said to Buy $25 Billion Australian Home Loan Portfolio From HSBC, Bloomberg Reports

Blackstone Said to Buy $25 Billion Australian Home Loan Portfolio From HSBC, Bloomberg Reports

$BX$HSBC
Wire

Market Chatter: HSBC in Talks to Offload Billions in UK Pension Assets

HSBC (HSBC) is in early talks to offload billions of pounds in UK pension assets after receiving interest from insurers, Bloomberg News reported, citing people familiar with the matter.The report said that the bank has discussed transferring assets from its 18.7 billion pound ($25.1 billion) UK pension pot, which had a 5.26 billion pound surplus as of December 2025, according to HSBC UK's annual report.The discussions are based on inbound inquiries, and HSBC has not started a formal process, the report said.HSBC didn't immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $107.01, Change: $+4.41, Percent Change: +4.30%

$HSBC
Sectors

Sector Update: Financial Stocks Advance Premarket Monday

Financial stocks were advancing premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.8% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.2% lower.Northern Trust (NTRS) has been selected to provide fund administration and related services to alternative asset manager Dawson Partners, the company said. Shares of Northern Trust were up more than 2% pre-bell.Bank of Hawaii (BOH) stock was up 3% after the company posted higher Q2 earnings and revenue.HSBC Holdings (HSBC) plans to launch an artificial intelligence facility in Singapore in H2 to develop AI capabilities that can be used across its global operations, the company said. Shares of HSBC Holdings were 0.6% higher pre-bell.

$BOH$FAS$FAZ$HSBC$NTRS$XLF
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Amid New US Tariffs

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2%, and the actively traded Invesco QQQ Trust (QQQ) advanced 0.1% in Friday's premarket activity, as investors digest new US tariffs amid continued corporate earnings.US stock futures were higher, with S&P 500 Index futures up 0.2%, Dow Jones Industrial Average futures gaining 0.4%, and Nasdaq futures advancing 0.1% before the start of regular trading.S&P Global US Manufacturing, Service, and Composite PMI are expected at 9:45 AM ET. New Home Sales are due at 10 AM ET, followed by Kansas City Fed Services at 11 AM ET.In premarket action, bitcoin was up by 0.01%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) rose over 2.6%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.1%, the iShares US Technology ETF (IYW) was 0.6% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.9%, while the iShares Semiconductor ETF (SOXX) fell by 0.5%.Intel (INTC) shares were up more than 3% in premarket activity after the company reported that it swung to fiscal Q2 adjusted earnings as revenue increased during the period.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was down 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.4%.SLB N.V. (SLB) stock was up more than 3% before market open after the company reported Q2 adjusted earnings Friday of $0.55 per diluted share, above analyst estimates of $0.51.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) rose 2.2%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was up 0.9%.Fly-E Group (FLYE) shares were up 2.4% pre-bell after the company said late Thursday it filed its overdue Form 10-K and expects it will eliminate the need to submit a formal plan to regain compliance with Nasdaq.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.4%, the Vanguard Industrials Index Fund (VIS) was up 0.6% and the iShares US Industrials ETF (IYJ) was inactive.C.H. Robinson Worldwide (CHRW) stock was down more than 2% before the opening bell after the company said that a Dallas County, Texas jury issued a $604 million advisory verdict against the company and two other defendants in a lawsuit stemming from a trucking accident.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was inactive, while the iShares US Healthcare ETF (IYH) slipped 1.4%. The iShares Biotechnology ETF (IBB) was inactive.Novo Nordisk (NVO) stock was up more than 1% premarket after the company filed a preliminary US court injunction to immediately block advertising by Eli Lilly (LLY) for its obesity and diabetes drugs.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1% lower.HSBC (HSBC) shares traded up 1% in early hours activity after the company signed the share purchase deal to sell HSBC Life in Singapore for $2.09 billion to Allianz Asia.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.3% to $89.15 per barrel on the New York Mercantile Exchange. Natural gas was up by 1% to $2.95 per 1 million British Thermal Units. The United States Oil Fund (USO) was down 2.4%, while the United States Natural Gas Fund (UNG) was 2% higher.Gold futures for July advanced 0.2% to $4,057.90 an ounce on the Comex. Silver futures were up 1.1% to $58.71 an ounce. SPDR Gold Shares (GLD) increased 0.1%, and the iShares Silver Trust (SLV) was 1.4% higher.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CHRW$EEM$EETH$EXI$FAS$FAZ$FLYE$GLD$HSBC$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVO$PMR$QQQ$RTH$SLB$SLV$SOXX$SPY$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Financial Stocks Advance Premarket Friday

Financial stocks were advancing premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.3% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1% lower.American Express (AXP) reported higher Q2 earnings and net revenue, with net revenue missing analysts' expectations. American Express stock was down more than 4% pre-bell.HSBC Holdings (HSBC) agreed to sell its HSBC Life (Singapore) insurance business to Allianz Asia Holdings for 2.70 billion Singaporean dollars ($2.09 billion). Shares of HSBC Holdings were up more than 1% premarket.Safety Insurance (SAFT) stock was up more than 41% after the company said it has entered an agreement to be acquired by an affiliate of Mapfre in a $1.54 billion all-cash deal.

$AXP$FAS$FAZ$HSBC$SAFT$XLF
Asia Markets

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

European equities traded in the US as American depositary receipts were tracking higher late Wednesday morning, rising 0.69% to 1,924.81 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by biopharmaceutical company Cellectis (CLLS) and petroleum refiner Equinor (EQNR), which climbed 6.8% and 4.9%, respectively. They were followed by semiconductor company Sequans Communications (SQNS) and brewing company Anheuser-Busch InBev (BUD), which advanced 4% and 2.8%, respectively.The decliners from continental Europe were led by internet browser company Opera (OPRA) and biopharmaceutical company DBV Technologies (DBVT), which dropped 3.3% and 2.9%, respectively. They were followed by telecommunications company Nokia (NOK) and software firm SAP (SAP), which lost 2.6% and 2%, respectively.The gainers from the UK were led by biopharmaceutical firm Akari Therapeutics (AKTX) and insurance firm Prudential (PUK), which rose 6.6% and 3.4%, respectively. They were followed by lender HSBC (HSBC) and telecommunications company operator Vodafone Group (VOD), which were up 2.2% each.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which shed 21% and 2.8% respectively. They were followed by pharmaceutical company Silence Therapeutics (SLN) and educational publisher Pearson (PSO), which fell 1.2% and 0.8% respectively.

$AKTX$BDRX$BUD$CLLS$DBVT$EQNR$HSBC$NOK$OPRA$PSO$PUK$SAP$SLN$SQNS$TRIB$VOD
Asia Markets

European Equities Traded in the US as American Depositary Receipts Rise Tuesday

European equities traded in the US as American depositary receipts were rising on Tuesday morning, adding 0.4% to 1,898.84 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by bank UBS (UBS) and semiconductor company Sequans (SQNS), which rose 4.3% and 4% respectively.They were followed by semiconductor company ASML (ASML), which added 2.4%.The decliners from continental Europe were led by technology company Ericsson (ERIC) and health technology company Philips (PHG), which fell 12% and 2.4% respectively.They were followed by software company SAP (SAP), which shed 2.3%, and pharmaceutical company Sanofi (SNY), which was down 1.8%.From the UK and Ireland, the gainers were led by banks Barclays (BCS) and HSBC (HSBC), which rose 2.2% and 2.2% respectively.The decliners from the UK and Ireland were led by hospitality company InterContinental Hotels Group (IHG) and beverage giant Diageo (DEO), which lost 2.6% and 2% respectively.

$ASML$BCS$DEO$ERIC$HSBC$IHG$PHG$SAP$SNY$SQNS$UBS
Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.5%.The Philadelphia Housing Index was falling 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.4%.Bitcoin (BTC-USD) was declining 2.7% to $62,004, and the yield for 10-year US Treasuries was rising 4 basis points to 4.609%.In corporate news, First Hawaiian (FHB) agreed to buy TriCo Bancshares (TCBK) in an all-stock deal to create one of the largest banks in the western US. First Hawaiian shares were down 3.4%, and TriCo jumped past 12%.Brookfield (BN) is in advanced talks to acquire a stake in Hudson Square Properties in a deal that would value the office portfolio at $3.5 billion, The Wall Street Journal reported. Brookfield shares were down 1.1%.Saudi digital services provider NourNet is working with Goldman Sachs (GS) and HSBC (HSBC) on a potential IPO that could take place as early as this year, Bloomberg reported. Goldman shares were down 1%, and HSBC was shedding 1.3%.Mastercard (MA) shares were rising 2%. The Financial Times reported Sunday the company is exploring the sale of a majority stake in its UK payments infrastructure subsidiary Vocalink potentially back to British banks.

$BN$FHB$GS$HSBC$MA$TCBK
Sectors

Sector Update: Financial

Financial stocks were advancing in late Monday afternoon trading, with the NYSE Financial Index rising 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.5%.The Philadelphia Housing Index was falling 1.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.4%.Bitcoin (BTC-USD) was declining 2.7% to $62,004, and the yield for 10-year US Treasuries was rising 4 basis points to 4.609%.In corporate news, Saudi digital services provider NourNet is working with Goldman Sachs (GS) and HSBC (HSBC) on a potential initial public offering that could take place as early as this year, Bloomberg reported. Goldman shares were down 1%, and HSBC was shedding 1.1%.

$GS$HSBC
Wire

HSBC Life Insurance Fined by Shanghai Regulator Over Compliance Issues

HSBC (HSBC) unit HSBC Life Insurance was fined 170,000 Chinese yuan ($25,085) by the Shanghai Financial Regulatory Bureau, according to a Google translation of a company filing Monday.An investigation found imprudent valuation of equity investments, unreasonable deductible clauses in medical insurance policies, and a health insurance business unit that did not comply with regulatory operating requirements.The regulator ordered the company to rectify the issues and issued a warning alongside the fine, citing provisions of China's Insurance Law and its Administrative Measures for Health Insurance.The company said it has completed the required rectification and will continue strengthening compliance and internal controls.Price: $98.01, Change: $-1.08, Percent Change: -1.09%

$HSBC
Asia Markets

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

European equities traded in the US as American depositary receipts were rising on Thursday morning, up 0.5% to 1,905.06 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by technology giants Nokia (NOK) and Ericsson (ERIC), which gained 6% and 4.4% respectively. They were followed by semiconductor company STMicroelectronics (STM), which climbed nearly 4%.The decliners from continental Europe were led by clinical-stage biopharmaceutical company Inventiva (IVA) and steel producer ArcelorMittal (MT), which fell 4.3% and 1.5% respectively. They were followed by software company SAP (SAP), which shed 0.7%.From the UK and Ireland, the gainers were led by semiconductor company Arm (ARM) and bank HSBC (HSBC), which climbed 12% and 2% respectively. They were followed by bank Barclays (BCS), which added 1.8%.The decliners from the UK and Ireland were led by pharmaceutical company Compass Pathways (CMPS) and budget airline Ryanair (RYAAY), which decreased 2.2% and 1.5% respectively.

$ARM$BCS$CMPS$ERIC$HSBC$IVA$MT$NOK$RYAAY$SAP$STM
Sectors

Sector Update: Financial Stocks Edge Lower Late Afternoon

Financial stocks were edging lower in late Tuesday afternoon trading, with the NYSE Financial Index down 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.1%.The Philadelphia Housing Index fell 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.7%.Bitcoin (BTC-USD) was decreasing 0.1% to $63,693, and the yield for 10-year US Treasuries rose 5.8 basis points to 4.54%.In economic news, consumer expectations for one-year US inflation growth jumped to 3.7% in June from 3.5% in the previous month, according to a survey released by the New York Federal Reserve Bank. The print is the highest since September 2023.The US international trade deficit widened to $77.59 billion in May from a revised $54.57 billion gap in April, compared with a wider shortfall of $78.4 billion expected in a Bloomberg-compiled survey.Consumer confidence for July rose from the prior month, with the RealClearMarkets' monthly index rising to 45.5 from 42.5 in June.In corporate news, PennyMac Financial Services (PFSI) shares fell 3.8% after Barclays downgraded the stock to equalweight from overweight and cut its price target to $93 per share from $107.Fiserv (FISV) has held talks with JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC) and PNC Financial Services (PNC) about a potential sale of its STAR Network debit payments business, Reuters reported. Fiserv shares were up 1.6%.HSBC (HSBC) will stop lending to riskier private credit clients that have not provided sufficient returns, Bloomberg reported. The bank will no longer provide back-leverage financing to several clients but will continue to provide them with access to other services, the report said. Separately, HSBC has launched a review of its Turkish retail and corporate banking business and is considering all options, Reuters reported. HSBC shares were shedding 1.4%.Gemini Space Station (GEMI) said Tuesday that it is launching stock trading for customers in the US. Customers in qualifying jurisdictions can now trade in US exchange-listed securities directly from the Gemini app, the company said. Gemini shares fell nearly 5%.

$FISV$GEMI$HSBC$PFSI
Sectors

Sector Update: Financial Stocks Lean Lower Pre-Bell Tuesday

Financial stocks were leaning lower pre-bell Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.2%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.Lloyds Banking Group (LYG) is planning to increase its focus on workplace pensions to boost its wealth segment as part of its five-year strategy through 2030, Bloomberg reported, citing internal company documents and a source familiar with the matter. Shares of Lloyds Banking Group were up more than 1% premarket.BMO Financial (BMO) has agreed to acquire the Australia-based capital markets business of Euroz Hartleys, the company said. Shares of BMO were 0.9% higher pre-bell.HSBC Holdings (HSBC) is in discussions to sell its Turkish unit to Emirates NBD, Bloomberg News reported, citing people familiar with the matter. HSBC Holdings stock was up 0.3% premarket.

$BMO$FAS$FAZ$HSBC$LYG$XLF
Sectors

Sector Update: Financial Stocks Edge Higher Pre-Bell Thursday

Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.7% lower.Morgan Stanley (MS) stands to benefit from the planned initial public offering of the National Stock Exchange of India, Bloomberg reported. Shares of Morgan Stanley were up 1.1% premarket.Brookfield Business (BBUC) has agreed to sell its Multiplex Global subsidiary to Obayashi, the Japanese company said. Brookfield Business stock was up more than 2% pre-bell.HSBC (HSBC) has been ordered by Australia's Federal Court to pay a 35 million Australian dollar ($24.6 million) penalty after admitting to serious failures in protecting customers from scams, Australian Securities and Investments Commission said. HSBC stock was marginally lower premarket.

$BBUC$FAS$FAZ$HSBC$MS$XLF
Sectors

Sector Update: Financial Stocks Decline Premarket Wednesday

Financial stocks were declining premarket Wednesday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.1% lower.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.5% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% higher.Progressive (PGR) stock was up more than 1% after the company reported net income for May of $2.47 per share, up from $1.81 a year earlier.HSBC Holdings (HSBC) announced a multi-year partnership with Google Cloud aimed at expanding the bank's artificial intelligence capabilities, Reuters reported. HSBC Holdings shares were up more than 1% premarket.KKR (KKR) said it is making a $1.4 billion equity commitment to expand its global portfolio of leased commercial aircraft in partnership with Altavair. KKR stock was down nearly 1% pre-bell.

$FAS$FAZ$HSBC$KKR$PGR$XLF
Asia Markets

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

European equities traded in the US as American depositary receipts were marginally higher Tuesday morning, edging up 0.14% to 1,914.32 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by accommodations booking company trivago (TRVG) and lender Banco Bilbao Vizcaya Argentaria (BBVA), which climbed 8.8% and 2.3%, respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and lender ING (ING), which increased 2.2% and 1.9%, respectively.The decliners from continental Europe were led by telecommunications firm Nokia (NOK) and biopharmaceutical firm DBV Technologies (DBVT), which dropped 4.9% and 3.9%, respectively. They were followed by internet ad firm Criteo (CRTO) and telecommunications company Ericsson (ERIC), which were both down 3.2%.The gainers from the UK were led by lenders HSBC (HSBC) and Barclays (BCS), which rose 2.1% and 1.8%, respectively. They were followed by lender Lloyds Banking Group (LYG) and hospitality company InterContinental Hotels Group (IHG), which were up 1.3% each.The decliners from the UK and Ireland were led by biotech firm Trinity Biotech (TRIB) and biopharmaceutical firm Bicycle Therapeutics (BCYC), which fell 7.4% and 2.7%, respectively. They were followed by biotech company Autolus Therapeutics (AUTL) and biopharmaceutical company Biodexa Pharmaceuticals (BDRX), which lost 1.7% and 1.6% respectively.

$AUTL$BBVA$BCS$BCYC$BDRX$CLLS$CRTO$DBVT$ERIC$HSBC$IHG$ING$LYG$NOK$TRIB$TRVG
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

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