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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

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 0.8%.Bitcoin (BTC-USD) was increasing 0.9% to $77,221, and the yield for 10-year US Treasuries rose 3.1 basis points to 4.975%.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 3.3%.

$JEF
Wire

Jefferies Financial Group Set for Record Advisory Quarter, But EPS Impact Limited, UBS Says

Jefferies Financial Group (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 Thursday.UBS said a large strategic deal that closed in early September is pulling forward advisory revenue into fiscal Q3, lifting its advisory estimate by 23% and implying record results for the franchise. UBS said the pull-forward comes at a cost, leaving the fourth quarter starting at a deficit and tracking well below consensus.UBS said continued momentum in equity capital markets and equities trading should support results, but headwinds in debt capital markets and fixed-income trading off a low base will limit meaningful improvement in the comp ratio.The firm kept its neutral rating on the stock but trimmed its price target to $61 from $65.Price: $52.23, Change: $-1.71, Percent Change: -3.16%

$JEF
Sectors

Sector Update: Financial Stocks Gain Late Afternoon

Financial stocks were advancing in late Thursday afternoon trading, with the NYSE Financial Index rising 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.5%.The Philadelphia Housing Index was up 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 1.1%.Bitcoin (BTC-USD) popped 5.5% to $81,564, and the yield for 10-year US Treasuries fell 3.4 basis points to 4.762%.In economic news, Federal Reserve Governor Christopher Waller said Thursday he would support keeping interest rates steady if further signs of disinflation emerge, though he seemed willing to tighten monetary policy if price pressures intensify.The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September slumped to 50% after midday Thursday from 63% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.The Institute for Supply Management's US services index rose to a reading of 55.4 in August from 54.1 in July, compared with expectations for no change in a survey compiled by Bloomberg.The S&P Global US services index was revised downwards to 56.5 in August from the 56.8 flash reading, as expected in a survey compiled by Bloomberg.In corporate news, Jefferies Financial-linked (JEF) fund LAM Trade Finance Group II has secured a worldwide freezing order from the UK High Court against iron ore trader Radiant World and its founder Pinkesh Nahar, media outlets reported. Jefferies shares were up 1.9%.Equity Bancshares (EQBK) has agreed to buy Lincoln Bancorp in a deal valued at $123.8 million, the companies said. Equity Bancshares gained 2.8%.UBS (UBS) is facing renewed scrutiny from the US Senate over Credit Suisse's handling of Nazi-linked accounts, with the Senate Judiciary Committee seeking responses after determining the bank had not fully addressed its earlier requests, Bloomberg reported. UBS shares were up 1.3%.Carlyle (CG), Bain Capital, Oaktree, and Nextalia are among the firms preparing to bid for a minority interest in a company holding the international media rights of Italy's Serie A soccer league, Reuters reported. Carlyle shares added 0.9%.

$CG$EQBK$JEF$UBS
Sectors

Sector Update: Financial

Financial stocks were advancing in late Thursday afternoon trading, with the NYSE Financial Index rising 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.5%.The Philadelphia Housing Index was up 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 1.1%.Bitcoin (BTC-USD) popped 5.5% to $81,564, and the yield for 10-year US Treasuries fell 3.4 basis points to 4.762%.In corporate news, Jefferies Financial-linked (JEF) fund LAM Trade Finance Group II has secured a worldwide freezing order from the UK High Court against iron ore trader Radiant World and its founder Pinkesh Nahar, media outlets reported. Jefferies shares were up 1.8%.

$JEF
Wire

Jefferies-Linked Fund Reportedly Wins Freezing Order Against Radiant World

Jefferies Financial (JEF)-linked fund LAM Trade Finance Group II has secured a worldwide freezing order from the UK High Court against iron ore trader Radiant World and its founder Pinkesh Nahar, media outlets reported, citing people familiar with the matter.The order also applies to Radiant World Holding, Radiant World Corporation, as well as Sapphire Minmetals and its chairman Rakesh Sethi, Bloomberg reported late Wednesday.LAM Trade Finance filed claims against Radiant World in London last week, according to reports, citing court records.Mizuho Financial's (MFG) Mizuho Bank also sought judicial management for Radiant World's main operating unit in Singapore, while Incomlend is pursuing claims exceeding $34 million against Radiant World and Nahar, the reports said.Jefferies and Radiant World did not immediately respond to a request for comment fromon Thursday.Price: $53.77, Change: $+0.87, Percent Change: +1.64%

$JEF$MFG
Sectors

Sector Update: Financial Stocks Decline Late Afternoon

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.6%.The Philadelphia Housing Index was climbing 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.6%.Bitcoin (BTC-USD) was increasing 5.5% to $68,185, and the yield for 10-year US Treasuries fell 5.3 basis points to 4.653%.In economic news, minutes of the July 28-29 meeting of the Federal Open Market Committee showed that most participants supported maintaining the federal funds rate at 3.50% to 3.75%.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, Klarna (KLAR) shares fell 2.1% after JPMorgan downgraded the stock to neutral from overweight and cut its price target to $18 per share from $22.Jefferies Financial's (JEF) indirect unit Jefferies Credit Partners is looking to raise about 1 billion euros ($1.17 billion) from investors who trade private credit in the secondary market, Bloomberg reported. Jefferies Financial shares were down 0.7%.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 0.4%.Progressive (PGR) shares added 4.8% after it reported that net premiums earned in July were $7.36 billion, up from $6.99 billion a year earlier.

$BLK$JEF$KLAR$PGR
Sectors

Sector Update: Financial

Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.6%.The Philadelphia Housing Index was climbing 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.6%.Bitcoin (BTC-USD) was increasing 5.5% to $68,185, and the yield for 10-year US Treasuries fell 5.3 basis points to 4.653%.In corporate news, Jefferies Financial's (JEF) indirect unit Jefferies Credit Partners is looking to raise about 1 billion euros ($1.17 billion) from investors who trade private credit in the secondary market, Bloomberg reported. Jefferies Financial shares were down 0.7%.

$JEF
Wire

Update: Market Chatter: Glencore Had Deal for Minority Stake in Radiant World in Late 2025

(Update with Glencore's response to a request for comment in the last paragraph.)Glencore acquired warrants in late 2025 that would have given it a minority stake in Radiant World, a few months before the London-listed commodity giant moved to cut ties with the troubled iron ore trader, Bloomberg reported Monday, citing people familiar with the matter.Radiant World has come under pressure amid concerns that it provided falsified documents to banks.Glencore holds warrants that could be converted into a stake of less than 5% in Radiant World, but it has not exercised them, Bloomberg reported.Jefferies Financial Group's (JEF) Point Bonita fund has been reviewing its exposure to Radiant World, according to an earlier Bloomberg report. Deutsche Bank (DB) and KBC Group froze some of Radiant World's bank accounts in Singapore, according to a separate Bloomberg report from Aug. 6.Glencore declined to comment, while Radiant World did not 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: $54.80, Change: $-0.34, Percent Change: -0.62%

$DB$JEF
Wire

Market Chatter: Glencore Had Deal for Minority Stake in Radiant World in Late 2025

Glencore acquired warrants in late 2025 that would have given it a minority stake in Radiant World, a few months before the London-listed commodity giant moved to cut ties with the troubled iron ore trader, Bloomberg reported Monday, citing people familiar with the matter.Radiant World has come under pressure amid concerns that it provided falsified documents to banks.Glencore holds warrants that could be converted into a stake of less than 5% in Radiant World, but it has not exercised them, Bloomberg reported.Jefferies Financial Group's (JEF) Point Bonita fund has been reviewing its exposure to Radiant World, according to an earlier Bloomberg report. Deutsche Bank (DB) and KBC Group froze some of Radiant World's bank accounts in Singapore, according to a separate Bloomberg report from Aug. 6.Glencore and Radiant World did not 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: $54.60, Change: $-0.54, Percent Change: -0.98%

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Wire

Glencore Had Deal for Minority Stake in Radiant World in Late 2025, Bloomberg Reports

Glencore Had Deal for Minority Stake in Radiant World in Late 2025, Bloomberg Reports

$JEF
Sectors

Sector Update: Financial Stocks Softer Friday Afternoon

Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index down 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.2%.The Philadelphia Housing Index shed 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.2%.Bitcoin (BTC-USD) was down 0.3% to $63,042, and the yield for 10-year US Treasuries was rising 5.5 basis points to 4.70%.In economic news, retail sales slid 0.6% in July amid declines in spending on motor vehicles and at gas stations, following a 0.2% increase in June, the Census Bureau reported Friday. The consensus was for 0.1% growth, according to a survey compiled by Bloomberg.The probability of the Federal Reserve extending its policy pause to September jumped to almost 70% by Friday afternoon, from 56% a week ago, according to the CME FedWatch tool, building on gains after data this week showed headline and core consumer and wholesale price inflation rates declined year over year in July.The University of Michigan's preliminary consumer sentiment index fell to 51.0 in August from 55.2 in July, below expectations for a much smaller decrease to 55.0 in a Bloomberg-compiled survey.In corporate news, the US Justice Department and the Commodity Futures Trading Commission are investigating Radiant World's iron ore trades amid concerns that it provided banks with falsified documents, Bloomberg reported. Jefferies Financial's (JEF) Point Bonita fund is reviewing its exposure to Radiant World, Bloomberg reported two weeks ago. Deutsche Bank (DB) and KBC have frozen some of Radiant World's bank accounts in Singapore, according to a separate Bloomberg report on Aug. 6. Jefferies shares were down 1.6%, and Deutsche was up 0.3%.JPMorgan Chase (JPM) has cut off banking access for prediction-market platform Polymarket over regulatory concerns, the Financial Times reported. The FT said the move comes as US regulators, including the Commodity Futures Trading Commission, maintain scrutiny of prediction markets. JPMorgan shares were shedding 0.2%.Nu (NU) shares jumped 8.3% after the company reported overnight a year-over-year surge in Q2 net income and revenue.

$DB$JEF$JPM$NU
Wire

Market Chatter: DOJ, CFTC Probing Radiant World Deals Amid False Document Concerns

The Justice Department and the Commodity Futures Trading Commission are investigating Radiant World's iron ore trades amid concerns that it provided banks with falsified documents, Bloomberg reported Friday, citing people familiar with the matter.Jefferies Financial Group's (JEF) Point Bonita fund is reviewing its exposure to Radiant World, Bloomberg reported two weeks ago. Deutsche Bank (DB) and KBC Group have frozen some of Radiant World's bank accounts in Singapore, according to a separate Bloomberg report on Aug. 6.The DOJ, CFTC and Radiant World didn't 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: $54.92, Change: $-0.94, Percent Change: -1.68%

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Wire

DOJ, CFTC Probing Radiant World Deals Amid False Document Concerns, Bloomberg Reports

DOJ, CFTC Probing Radiant World Deals Amid False Document Concerns, Bloomberg Reports

$DB$JEF
Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index was climbing 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was 0.1% lower.Bitcoin (BTC-USD) was increasing 1.2% to $64,233, and the yield for 10-year US Treasuries fell 5.9 basis points to 4.627%.In sector news, Polymarket is seeking new investment at a valuation of more than $20 billion, Bloomberg reported. The prediction-markets platform is in early discussions with prospective investors to raise about $1 billion, the report said.In corporate news, JPMorgan Chase's (JPM) asset management unit is nearing a deal to buy Idex from Antin Infrastructure Partners in a deal that would value the French heating and cooling network operator at about 3.8 billion euros ($4.4 billion), including debt, Bloomberg reported. JPMorgan shares rose 1.5%.Blackstone (BX) has held early talks with investors to assess their interest in a second massive debt package to finance Anthropic's use of chips from Alphabet's (GOOGL) Google, Bloomberg reported. Blackstone shares added 1.8%.Jefferies Financial (JEF) was told that some of the invoices backing its financing to Sapphire Minmetals are not genuine, Bloomberg reported. The discovery came after Jefferies checked the authenticity of the invoices with Vitol Group and marks another setback for its Point Bonita fund, the report said. Jefferies shares were up 1.1%.Apollo Global Management (APO) shares were up 2.4% following its Q2 results.

$APO$BX$JEF$JPM
Sectors

Sector Update: Financial

Financial stocks were higher in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index was climbing 2.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was fractionally higher.Bitcoin (BTC-USD) was increasing 1.2% to $64,233, and the yield for 10-year US Treasuries fell 5.9 basis points to 4.627%.In corporate news, Jefferies Financial (JEF) was told that some of the invoices backing its financing to Sapphire Minmetals are not genuine, Bloomberg reported. The discovery came after Jefferies checked the authenticity of the invoices with Vitol Group and marks another setback for its Point Bonita fund, the report said. Jefferies shares were up 0.9%.

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Wire

Market Chatter: Jefferies Informed of Fake Invoices Backing Sapphire Minmetals Financing

Jefferies Financial Group (JEF) was told that some of the invoices backing its financing to Sapphire Minmetals are not genuine, Bloomberg reported Tuesday, citing people familiar with the matter.The discovery came after Jefferies checked the authenticity of the invoices with Vitol Group and marks another setback for its Point Bonita fund, according to the report.The report follows an earlier Bloomberg story that Jefferies found discrepancies in paperwork supporting its financing to iron ore trader Radiant World, although it believed the underlying trades were genuine.Jefferies 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: $55.18, Change: $-0.52, Percent Change: -0.92%

$JEF
Wire

Jefferies Informed of Fake Invoices at Troubled Fund, Bloomberg Reports

Jefferies Informed of Fake Invoices at Troubled Fund, Bloomberg Reports

$JEF
Sectors

Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks were slightly higher in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each fractionally higher.The Philadelphia Housing Index was decreasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was falling 2.7% to $62,986, and the yield for 10-year US Treasuries climbed 8.2 basis points to 4.745%.In economic news, US consumer sentiment jumped in July amid broad-based gains across demographic groups, while year-ahead inflation expectations eased, final results of a survey by the University of Michigan showed Friday. The main sentiment index increased nearly 12% sequentially to 55.2 this month. The gauge for current economic conditions jumped to 54.8 from 47.7, while the index of consumer expectations advanced 9.3% to 55.4, according to the survey.In sector news, Jefferies Financial's (JEF) Point Bonita fund is one of at least two creditors currently reviewing their exposure to Radiant World after two trading houses found invoices or other documents the company provided to banks were not valid, Bloomberg reported. Jefferies shares were down 0.4%.Coinbase (COIN) shares fell 7.8% on Friday, a day after the company reported lower-than-expected Q2 results.Apollo Global Management (APO) and KKR (KKR) are facing increased scrutiny from US insurance regulators over fast-growing multi-asset securitization structures that officials say could pose transparency and "circular ownership" risks, the Financial Times reported. Apollo shares were up 3.8%, and KKR was gaining 0.2%.HSBC (HSBC) said Friday it expects to incur $300 million in restructuring costs and write-offs following its decision to sell its Australian home loans and personal loans portfolio and wind down the remainder of the retail business in the country over the next 18 months. Separately, HSBC has held early talks to transfer billions of pounds of assets from its UK pension scheme to insurers after being approached by potential buyers, Bloomberg reported. HSBC shares were down 0.6%.

$APO$COIN$HSBC$JEF$KKR
Sectors

Sector Update: Financial

Financial stocks were slightly higher in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each fractionally higher.The Philadelphia Housing Index was decreasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.5%.Bitcoin (BTC-USD) was falling 2.7% to $62,986, and the yield for 10-year US Treasuries climbed 8.2 basis points to 4.745%.In sector news, Jefferies Financial's (JEF) Point Bonita fund is one of at least two creditors currently reviewing their exposure to Radiant World after two trading houses found invoices or other documents the company provided to banks were not valid, Bloomberg reported. Jefferies shares were steady.

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