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Wire

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 0.9% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.7%.The Philadelphia Housing Index was climbing 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.7%.Bitcoin (BTC-USD) was increasing 1% to $77,301, and the yield for 10-year US Treasuries rose 3.1 basis points to 4.975%.In economic news, the US consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.The University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, larger than an expected decrease to 51.0 in a survey compiled by Bloomberg.In corporate news, Jefferies Financial (JEF) is on track for its best advisory quarter on record, though the strength will have limited pull-through to earnings amid trading headwinds, UBS said in a note. The firm kept its neutral rating on the stock but trimmed its price target to $61 from $65. Jefferies shares were down 3.6%.Blackstone (BX) plans to buy many more tensor processing units from Alphabet (GOOGL) unit Google than initially outlined, The Information reported. The private equity and real estate giant's spending on TPUs could be several "multiples" beyond the $5 billion it announced under a joint venture with Google in May, the report said. Blackstone shares rose 2.4%.KKR (KKR) and Francisco Partners have agreed to buy minority stakes in Italian software company TeamSystem from its main investor Hellman & Friedman, Reuters reported. KKR shares were up 0.2%.Intercontinental Exchange (ICE) warehouses could receive huge volumes of arabica coffee from Brazil, with two trade majors processing the certification of their stocks, Reuters reported. ICE Futures US runs the arabica coffee contract, and majors Olam and Louis Dreyfus are seeking to certify thousands of bags of coffee at the exchange in time for the December contract, sources told Reuters. Olam is processing up to 200,000 bags, according to the report. Intercontinental Exchange shares added 1.1%.

$BX$ICE$JEF$KKR
Sectors

Sector Update: Financial Stocks Higher Friday Afternoon

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.9% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.6%.The Philadelphia Housing Index was climbing 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.1%.Bitcoin (BTC-USD) was increasing 1.7% to $77,833, and the yield for 10-year US Treasuries was slightly higher at 4.95%.In economic news, the US consumer price index rose 0.4% month on month, the fastest pace since May and above July's 0.1% gain, the Bureau of Labor Statistics data showed Friday. The move matched the Bloomberg-polled consensus. Core inflation, which excludes the more volatile food and energy components, jumped to a four-month high of 0.3%, exceeding market projections for an unchanged 0.2% growth.The University of Michigan's preliminary consumer sentiment index fell to 47.8 in September from 51.7 in August, larger than an expected decrease to 51.0 in a survey compiled by Bloomberg.In corporate news, KKR (KKR) and Francisco Partners have agreed to buy minority stakes in Italian software company TeamSystem from its main investor Hellman & Friedman, Reuters reported. KKR shares were up 0.5%.Intercontinental Exchange (ICE) warehouses could receive huge volumes of arabica coffee from Brazil, with two trade majors processing the certification of their stocks, Reuters reported. ICE Futures US runs the arabica coffee contract, and majors Olam and Louis Dreyfus are seeking to certify thousands of bags of coffee at the exchange in time for the December contract, sources told Reuters. Olam is processing up to 200,000 bags, according to the report. Intercontinental Exchange shares added 1.5%.Blackstone (BX) intends to purchase many more tensor processing units from Alphabet (GOOGL) unit Google than initially outlined, The Information reported. The private equity and real estate giant's spending on TPUs could be several "multiples" beyond the $5 billion it announced under a joint venture with Google in May, the report said. Blackstone shares rose 2.4%.

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Wire

Market Chatter: Intercontinental Exchange Warehouses Could Receive Huge Volumes of Arabica Coffee

Intercontinental Exchange (ICE) warehouses could receive huge volumes of arabica coffee from Brazil, with two trade majors processing the certification of their stocks, Reuters reported Friday, citing sources familiar with the matter.ICE Futures US runs the arabica coffee contract, and majors Olam and Louis Dreyfus are seeking to certify thousands of bags of coffee at the exchange in time for the December contract, sources told Reuters. Olam is processing up to 200,000 bags, according to the report.Coffee prices have been elevated amid declining ICE arabica stocks, which fell to 26-year lows, Reuters said, citing industry analysts.Intercontinental Exchange, Olam and Louis Dreyfus 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.)Price: $157.71, Change: $+1.90, Percent Change: +1.22%

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Equities

Market Chatter: Energy Transfer set to Switch Primary Listing To TXSE From NYSE

Energy Transfer LP (ET) is set to become the first major company to switch its primary listing from the New York Stock Exchange to the Texas Stock Exchange, Bloomberg said Wednesday, citing people familiar with the matter.The $75 billion pipeline company plans to move its listing as soon as next month, the people said, according to the report.More companies are expected to announce plans to switch to TXSE in the coming weeks, according to the people, the report said.Energy Transfer's executive chairman Kelcy Warren owns a roughly 30% stake in TXSE Group and was one of its earliest investors, alongside BlackRock and Citadel Securities, Bloomberg said, citing a 2025 filing.Energy Transfer did not immediately respond 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.)

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Sectors

Sector Update: Financial Stocks Advance Premarket Thursday

Financial stocks were advancing premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) 0.5% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 1.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 1.4% lower.Equity Bancshares (EQBK) has agreed to acquire Lincoln Bancorp in a deal valued at approximately $123.8 million, the companies said. Equity Bancshares stock was up 0.8% pre-bell.PayPal (PYPL) has laid off around 600 employees across its India operations as part of a global restructuring and cost-cutting drive, MoneyControl reported, citing unnamed people familiar with the matter. Shares of PayPal were 0.5% higher premarket.Intercontinental Exchange (ICE) said its New York Stock Exchange subsidiary and Korea Exchange signed a memorandum of understanding to collaborate on expanding access to global capital markets. Intercontinental Exchange shares were up 0.7% pre-bell.

$EQBK$FAS$FAZ$ICE$PYPL$XLF
Sectors

Sector Update: Financial Stocks Softer Tuesday Afternoon

Financial stocks fell in Tuesday afternoon trading with the NYSE Financial Index declining 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) dropping 0.7%.The Philadelphia Housing Index lost 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%.Bitcoin (BTC-USD) fell 1.4% to $77,481, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.786%.In economic news, US job openings rose to 7.271 million in July, according to the Bureau of Labor Statistics, below 7.313 million expected in a survey compiled by Bloomberg and up from 7.182 million in June.The Institute for Supply Management's US manufacturing index fell to 54.6 in August from 55.6 in July, compared with expectations for 55.2 in a survey compiled by Bloomberg.The first look at consumer confidence for September improved from August, with the RealClearMarkets' monthly index rising to 45.6 from 45.1. The gauge was the highest since March.The probability of the Federal Reserve raising its target rate by 25 basis points to 3.75% to 4% in September surged to 66% after midday Tuesday from 40% a day ago, according to the CME FedWatch tool.In corporate news, Apollo Global Management-backed (APO) Brightspeed informed investors there is significant doubt it can continue as a going concern, Bloomberg reported. Apollo shares fell 3.2%.Blackstone (BX) and Apollo are among the private equity firms mulling bids for Syensqo's performance and care unit, which could be valued at 3 billion euros ($3.5 billion) or more, Bloomberg reported. Blackstone shares fell 4.4%.Intercontinental Exchange-backed (ICE) prediction site Polymarket is set to receive a $300 million investment from existing investor 1789 Capital, in which Donald Trump Jr. is a partner, the Wall Street Journal reported. Intercontinental Exchange shares fell 1%.

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Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks declined in late Thursday afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.7%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.3%.Bitcoin (BTC-USD) popped 6.3% to $72,707, and the yield for 10-year US Treasuries rose 4.5 basis points to 4.70%.In economic news, US Treasury Secretary Scott Bessent said the department's government debt buyback program could surpass the previously announced $4 billion, CNBC reported Thursday, citing an interview with the official. Bessent also said the US' plans to step up economic pressure on Iran will likely negate the need to wage further military operations, CNBC reported.The Conference Board's measure of leading indicators rose by 0.2% in July, a larger gain than the 0.1% increase expected in a Bloomberg survey, and following a 0.1% decrease in June.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August, compared with 41.4 in July and an anticipated decrease to a 24.1 print in a Bloomberg survey.According to the US Labor Department, US initial jobless claims fell to 206,000 in the week ended Aug. 15 from an upwardly revised 212,000 in the week earlier, and lower than the 210,000 expected in a Bloomberg survey.In corporate news, KKR's (KKR) Arctos is in talks to buy 10% of the Atlanta Falcons at a $10.6 billion valuation, CNBC reported. Bloomberg separately reported that the Falcons are in discussions to sell a 10% stake to Arctos. KKR shares were down 2.9%.Intercontinental Exchange (ICE) is looking at participating in Polymarket's latest funding round, Bloomberg reported, citing an interview with the New York Stock Exchange parent company's CEO Jeff Sprecher. Sprecher said ICE would look at it, if it would help the round, after investing $1.64 billion in Polymarket through two funding rounds, the report said. Intercontinental Exchange shares added 1.1%.Prudential Financial's (PRU) asset-management arm PGIM said Thursday that its has agreed to buy up to $3 billion of home improvement loans from GreenSky under a three-year forward flow agreement. Prudential Financial shares declined 1%.Virtu Financial (VIRT) is exploring a potential sale of its brokerage and technology unit in a deal that could be worth up to $3.5 billion to $4 billion, Bloomberg reported. Virtu shares rose 1.7%.

$ICE$KKR$PRU$VIRT
Sectors

Sector Update: Financial Stocks Lower in Afternoon Trading

Financial stocks declined in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each decreasing about 0.4%.The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.4%.Bitcoin (BTC-USD) climbed up 4.8% to $72,601, and the yield for 10-year US Treasuries was rising 4.9 basis points to 4.70%.In economic news, US Treasury Secretary Scott Bessent said the department's government debt buyback program could surpass the previously announced $4 billion, CNBC reported Thursday, citing an interview with the official. Bessent also said the US' plans to step up economic pressure on Iran will likely negate the need to wage further military operations, CNBC reported.The Conference Board's measure of leading indicators rose by 0.2% in July, a larger gain than the 0.1% increase expected in a Bloomberg survey, and following a 0.1% decrease in June.The Philadelphia Federal Reserve's monthly manufacturing index rose to 47.4 in August, compared with 41.4 in July and an anticipated decrease to a 24.1 print in a Bloomberg survey.According to the US Labor Department, US initial jobless claims fell to 206,000 in the week ended Aug. 15 from an upwardly revised 212,000 in the week earlier, and lower than the 210,000 expected in a Bloomberg survey.In corporate news, Intercontinental Exchange (ICE) is looking at participating in Polymarket's latest funding round, Bloomberg reported, citing an interview with the New York Stock Exchange parent company's CEO Jeff Sprecher. Sprecher said ICE would look at it, if it would help the round, after investing $1.64 billion in Polymarket through two funding rounds, the report said. Shares rose 1.6%.Prudential Financial's (PRU) asset-management arm PGIM said Thursday that its has agreed to buy up to $3 billion of home improvement loans from GreenSky under a three-year forward flow agreement. Shares were down 0.7%.Virtu Financial (VIRT) is exploring a potential sale of its brokerage and technology unit in a deal that could be worth up to $3.5 billion to $4 billion, Bloomberg reported. Virtu shares gained past 3%.Deutsche Bank (DB) has made a slew of hires as part of a plan to rebuild its energy trading business after largely exiting the commodities sector over a decade ago, Bloomberg reported Thursday. Deutsche shares fell 1.1%.

$DB$ICE$PRU$VIRT
Sectors

Sector Update: Financial

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each decreasing 0.3%.The Philadelphia Housing Index was falling 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.4%.Bitcoin (BTC-USD) climbed 4.8% to $72,601, and the yield for 10-year US Treasuries was rising 4.9 basis points to 4.70%.In corporate news, Intercontinental Exchange (ICE) is looking at participating in Polymarket's latest funding round, Bloomberg reported, citing an interview with the New York Stock Exchange parent company's CEO Jeff Sprecher. Sprecher said ICE would look at it, if it would help the round, after investing $1.64 billion in Polymarket through two funding rounds, the report said. Intercontinental Exchange shares rose 1.2%.

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Wire

Market Chatter: Intercontinental Exchange Eyes Participation in Polymarket's New Funding Round

Intercontinental Exchange (ICE) is looking at participating in Polymarket's latest funding round, Bloomberg reported Thursday, citing an interview with the New York Stock Exchange parent company's chief executive Jeff Sprecher.Sprecher said ICE would look at it, if it would help the round, after investing $1.64 billion in Polymarket through two funding rounds, according to the report.Intercontinental Exchange did not immediately respond 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: $157.63, Change: $+0.38, Percent Change: +0.24%

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Insider Trading

Intercontinental Exchange Insider Sold Shares Worth $645,763, According to a Recent SEC Filing

Mayur Kapani, Chief Technology Officer, on August 12, 2026, sold 4,271 shares in Intercontinental Exchange (ICE) for $645,763. Following the Form 4 filing with the SEC, Kapani has control over a total of 67,988 common shares of the company, with 67,988 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1571949/000119312526352393/xslF345X05/ownership.xml

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Sectors

Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks were edging up in late Tuesday afternoon trading, with the NYSE Financial Index adding 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally higher.The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.6%.Bitcoin (BTC-USD) was declining 0.9% to $63,394, and the yield for 10-year US Treasuries decreased less than one basis point to 4.69%.In economic news, the pace of US existing home sales fell by 1.7% to a 4.06 million seasonally adjusted annual rate in July from 4.13 million in June, compared with a larger expected decrease to a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Tuesday showed.The National Federation of Independent Business's monthly Small Business Optimism Index rose to 99.8 in July from 97.4 in June but was below the 100.3 reported a year earlier.Redbook US same-store sales jumped 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% surge in the previous week.In corporate news, Apollo Global Management's (APO) Apollo Sports Capital has reached a $2.6 billion financing deal with Yankee Global Enterprises, the holding company of the New York Yankees, Apollo said Tuesday. As part of the deal, Apollo Sports Capital CEO Al Tylis will join YGE's board, the company said. Apollo shares jumped 6.1%.Nvidia (NVDA) said late Monday it partnered with six financial institutions to raise more than $500 billion in third-party capital for AI infrastructure. Nvidia signed memorandums of understanding with Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BN), Goldman Sachs (GS) and KKR (KKR) to establish independent compute financing platforms, it said. BlackRock was up 1.4%, Blackstone added 3.8%, Brookfield rose 1.2%, Goldman was down 0.1%, and KKR climbed 7%.Blue Owl Capital (OWL) is selling $750 million of high-grade debt, $250 million more than initially discussed, after receiving a sizable amount of investor orders, Bloomberg reported. Blue Owl shares rose 5.2%.Intercontinental Exchange (ICE) has started a US investment-grade bond sale in as many as five parts two weeks after announcing a $6 billion deal to acquire MarketAxess Holdings (MKTX), Bloomberg reported. Intercontinental Exchange shares increased 0.5%.

$APO$BLK$BN$BX$GS$ICE$KKR$OWL
Wire

Market Chatter: Intercontinental Exchange Set to Raise $3.75 Billion From Bond Sale

Intercontinental Exchange (ICE) is selling $3.75 billion of US investment-grade bonds after recently announcing its planned acquisition of MarketAxess (MKTX), Bloomberg reported Tuesday, citing a person familiar with the matter.The New York Stock Exchange parent is offering notes across four parts, with maturities of three to 10 years, the report said, citing the person.The longest tenor is set to yield a premium of 1.15 percentage points above Treasuries, the report added.(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: $150.50, Change: $-0.04, Percent Change: -0.03%

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Sectors

Sector Update: Financial Stocks Advance Tuesday Afternoon

Financial stocks were rising in Tuesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each increasing 0.2%.The Philadelphia Housing Index was climbing 1.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.Bitcoin (BTC-USD) was declining 0.7% to $63,468, and the yield for 10-year US Treasuries was decreasing 1.5 basis points to 4.684%.In economic news, the pace of US existing home sales fell by 1.7% to a 4.06 million seasonally adjusted annual rate in July from 4.13 million in June, compared with a larger expected decrease to a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Tuesday showed.In corporate news, Apollo Global Management's (APO) Apollo Sports Capital has reached a $2.6 billion financing deal with Yankee Global Enterprises, the holding company of the New York Yankees, Apollo said Tuesday. As part of the deal, Apollo Sports Capital CEO Al Tylis will join YGE's board, the company said. Apollo shares jumped past 6%.Intercontinental Exchange (ICE) has started a US investment-grade bond sale in as many as five parts two weeks after announcing a $6 billion deal to acquire MarketAxess Holdings (MKTX), Bloomberg reported. Intercontinental Exchange shares increased 0.3%.Bank of Montreal (BMO) and Royal Bank of Canada agreed to sell jointly owned Moneris Solutions to Francisco Partners for about CA$2 billion ($1.44 billion) in cash, with BMO entitled to 50% of the proceeds, the company said. Bank of Montreal shares added 0.2%.

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Wire

Intercontinental Exchange Begins Bond Sale for MarketAxess Acquisition, Bloomberg Reports

Intercontinental Exchange Begins Bond Sale for MarketAxess Acquisition, Bloomberg Reports

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Wire

UBS Adjusts Price Target on Intercontinental Exchange to $195 From $190, Maintain Buy Rating

Intercontinental Exchange (ICE) has an average rating of buy and mean price target of $180.46, according to analysts polled by FactSet.Price: $153.27, Change: $-3.00, Percent Change: -1.92%

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Sectors

Sector Update: Financial Stocks Advance Late Afternoon

Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index rising 1.1% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.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 1.3% to $64,746, and the yield for 10-year US Treasuries rose 4.1 basis points to 4.663%.In economic news, the US personal consumption expenditure price index fell 0.1% month over month in June, marking the first decline since April 2020, the Bureau of Economic Analysis reported Thursday. That helped cut the year-over-year rate to 3.7% from 4.1%.US real gross domestic product increased at a 1.5% annualized rate in the quarter ended June, according to an advance government estimate released Thursday. The consensus was for 2% growth in a survey compiled by Bloomberg.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 rose 1.2%, and MarketAxess surged 29%.Goldman Sachs (GS) Asset Management has launched AlphaAI, an AI investing platform to drive returns in public and private market businesses, Reuters reported. Goldman shares climbed 4.9%.A Morgan Stanley-led (MS) group of banks is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported. Morgan Stanley shares rose 3.8%.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 2.6%.Blue Owl Capital's (OWL) data center firm Stack Infrastructure is seeking a syndicated loan of 8.5 billion Australian dollars ($5.9 billion) to back its third data center project in Melbourne, Bloomberg reported. Blue Owl shares rose 6.2%.

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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
Sectors

Sector Update: Financial

Financial stocks were advancing 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 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 0.3%, and MarketAxess surged 29%.

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NYSE Parent Intercontinental Exchange to Buy MarketAxess for $6 Billion
US Markets

NYSE Parent Intercontinental Exchange to Buy MarketAxess for $6 Billion

Intercontinental Exchange (ICE) agreed to acquire electronic trading platform MarketAxess (MKTX) for $6 billion, creating a powerhouse that aims to serve "every segment of the fixed income market."MarketAxess' shareholders will receive $167 per share in cash, representing a 33% premium over the company's stock price at close on Wednesday, the companies said Thursday. The deal has an equity value of about $6 billion and an enterprise value of $5.7 billion.MarketAxess operates a platform for fixed-income securities, such as corporate and municipal bonds, emerging market debt, and US Treasuries. The firm connects approximately 2,100 institutional investors and broker-dealers across more than 90 countries.ICE is the parent of the New York Stock Exchange.The combined company will offer pre- and post-trade offerings, along with electronic execution for both retail and institutional investors. The merged platform aims to "serve every category of fixed income participant," the companies said."MarketAxess contributes a leading fixed-income trading network and deep market expertise, while ICE brings additional retail and wealth trading protocols, strong data, connectivity, and a broader set of product capabilities," MarketAxess CEO Chris Concannon said.The deal is expected to close in the first half of 2027, subject to MarketAxess stockholder approval and regulatory clearances.Separately, ICE reported second-quarter adjusted earnings per share of $1.90 Thursday, up from $1.81 a year ago and higher than the consensus on FactSet of $1.84. Net revenue rose 5% to $2.67 billion, exceeding Wall Street's $2.63 billion view.The company's exchange segment revenue grew 3% year over year to $1.46 billion, while fixed income and data services rose 8%.MarketAxess also reported second-quarter results Thursday, with non-GAAP EPS decreasing to $1.95 from $2 a year ago. Analysts expected $1.85. Revenue remained "relatively flat" year over year at $218.4 million, the company said, compared with the Street's estimate of $216.7 million.Revenue for the commissions business declined 3% annually to $186.9 million in the second quarter. The information services unit saw a 23% surge, with the post-trade division also posting a gain.MarketAxess' shares surged 30% to $163.13 in Thursday trade, while ICE's stock fell 1.7%."We would expect (MarketAxess) shares to trade close to the $167 offer given the straightforward all-cash structure and ICE's scale/financing certainty, with the main swing factor being antitrust review given the two firms' combined position in electronic fixed income trading and data," Wedbush Securities analyst Michael Piccolo said in a note.Price: $152.10, Change: $-2.18, Percent Change: -1.41%

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