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Sectors

Sector Update: Financial Stocks Rise Late Afternoon

Financial stocks advanced in late Thursday afternoon trading, with the NYSE Financial Index rising 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1%.The Philadelphia Housing Index climbed 3.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.4%.Bitcoin (BTC-USD) gained 3.2% to $63,436, and the yield for 10-year US Treasuries dropped 8.3 basis points to 4.459%.In economic news, core producer price index, which excludes the more volatile food and energy prices, increased by 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and following a 0.7% gain in April. Core PPI remained at 4.9% year-over-year, but below the 5.4% consensus.US initial jobless claims rose to a level of 229,000 in the week ended June 6 from an unrevised level of 225,000 in the previous week, compared with expectations for an increase to 220,000 in a survey of analysts compiled by Bloomberg.In sector news, the US Supreme Court on Thursday overturned a lower court ruling, blocking activist investors from suing closed-end mutual funds over maneuvers they take to avoid activist-investor takeovers. Saba Capital Master Fund, which led the suing investors, alleged that such moves, like incorporating in favorable jurisdictions, violate the Investment Company Act of 1940.In corporate news, Citigroup (C) launched tokenized depositary receipts for private-company shares, expanding its use of blockchain technology in private markets. Citi shares rose 3.6%.BlackRock (BLK) placed an order to buy at least $5 billion worth of SpaceX shares, the Wall Street Journal reported. Individual investors placed more than $70 billion in orders, and the company also attracted demand from sovereign wealth funds and family offices, including a single family office order of over $1 billion, the report said. BlackRock shares were up 0.8%.KKR (KKR) and co-investors will acquire a majority stake in Chicago-based accounting firm Crowe in a $3 billion deal, The Wall Street Journal reported. Separately, KKR said it launched Helix Digital Infrastructure, a platform with over $10 billion in committed capital to finance AI infrastructure. KKR shares were up 0.1%.Charles Schwab (SCHW) said Thursday that it has lowered expense ratios on four of its equity index ETFs, including funds tracking US mid-cap, small-cap, international small-cap, and emerging markets stocks. Its shares eased 0.1%.

$BLK$C$KKR$SCHW
Wire

Market Chatter: KKR to Acquire Majority Stake in Crowe in $3 Billion Deal

KKR (KKR) and co-investors will acquire a majority stake in Chicago-based accounting firm Crowe in a $3 billion deal, The Wall Street Journal reported Thursday, citing people familiar with the matter.Crowe partners will retain a minority stake, and the deal is expected to close in Q3, according to the report.Crowe expects the fresh capital to accelerate its AI adoption as part of efforts to serve clients better, according to the media outlet.KKR 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.)Price: $94.34, Change: $-0.68, Percent Change: -0.72%

$KKR
Sectors

Sector Update: Financial Stocks Mixed Thursday Afternoon

Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index rose 2.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.Bitcoin (BTC-USD) gained 2.5% to $63,498, and the yield for 10-year US Treasuries decreased 6.3 basis points to 4.48%.In economic news, core producer price index, which excludes the more volatile food and energy prices, increased by 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and following a 0.7% gain in April. Core PPI remained at 4.9% year-over-year, but below the 5.4% consensus.US initial jobless claims rose to a level of 229,000 in the week ended June 6 from an unrevised level of 225,000 in the previous week, compared with expectations for an increase to 220,000 in a survey of analysts compiled by Bloomberg.In sector news, the US Supreme Court on Thursday overturned a lower court ruling, blocking activist investors from suing closed-end mutual funds over maneuvers they take to avoid activist-investor takeovers. Saba Capital Master Fund, which led the suing investors, alleged that such moves, like incorporating in favorable jurisdictions, violate the Investment Company Act of 1940.In corporate news, BlackRock (BLK) placed an order to buy at least $5 billion worth of SpaceX shares, the Wall Street Journal reported. Individual investors placed more than $70 billion in orders, and the company also attracted demand from sovereign wealth funds and family offices, including a single family office order of over $1 billion, the report said. BlackRock shares were up 1.1%.Charles Schwab (SCHW) said Thursday that it has lowered expense ratios on four of its equity index ETFs, including funds tracking US mid-cap, small-cap, international small-cap, and emerging markets stocks. Its shares rose 0.1%.KKR (KKR) said Thursday it launched Helix Digital Infrastructure, a platform with over $10 billion in committed capital to finance AI infrastructure, including data centers, power and connectivity expansion. KKR shares were down 0.5%.

$BLK$KKR$SCHW
Wire

Market Chatter: Alternative-Investment Firms Target Mexico's $500 Billion Pension Pool

Blue Owl Capital (OWL), Ares Management (ARES), and Golub Capital are among firms targeting a $500 billion opportunity in Mexican pension funds, Bloomberg reported Monday.Reforms have boosted contributions to workers' accounts, while new rules allow the Mexican funds to allocate more to international private-markets managers, the report said.BlackRock (BLK), Blackstone (BX), KKR (KKR) and Lexington Partners were among the earliest to set up vehicles eligible for investment by the pension funds, known as Afores, according to data from local exchange Biva, the report said.Blue Owl and Ares did not immediately respond to a requests for comment by.(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: $9.46, Change: $-0.35, Percent Change: -3.52%

$ARES$BLK$BX$KKR$OWL
Sectors

Sector Update: Financial

Financial stocks were higher in late Friday afternoon trading, with the NYSE Financial Index up 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.1%.The Philadelphia Housing Index was down 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.4%.Bitcoin (BTC-USD) was down 6.5% to $59,570, and the yield for 10-year US Treasuries rose 6.3 basis points to 4.54%.In corporate news, KKR (KKR) and Brookfield Asset Management (BAM) are in discussions with Switch to invest in the data center developer's fundraising round at a valuation of at least $50 billion, The Information reported Thursday. KKR shares fell 2.6%, and Brookfield was down 1.9%.

$BAM$KKR
Wire

Market Chatter: KKR, Brookfield Asset Management in Talks to Invest in Switch's Fundraising Round

KKR (KKR) and Brookfield Asset Management (BAM) are among investors in discussions with Switch to invest in the data center developer's fundraising round at a valuation of at least $50 billion, The Information reported Thursday, citing people familiar with the matter.The fundraising round could set up Switch for an initial public offering, which could happen as early as 2027, according to the report.KKR and Brookfield Asset Management 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.)Price: $93.24, Change: $-2.22, Percent Change: -2.33%

$BAM$KKR
Sectors

Sector Update: Financial Stocks Higher Friday Afternoon

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.The Philadelphia Housing Index was down 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.Bitcoin (BTC-USD) was declining 0.9% to $76,888, and the yield for 10-year US Treasuries was down 1.4 basis points at 4.57%.In economic news, Kevin Warsh was sworn in as chair of the US Federal Reserve in a ceremony at the White House, media outlets reported Friday. Warsh returns to the Fed after serving as a board member from 2006 to 2011, the reports said.The University of Michigan consumer sentiment index was revised down to 44.8 for May from 48.2 preliminary, compared with expectations for a no revision in a Bloomberg survey and a drop from the final 49.8 in April.The Conference Board's measure of leading indicators rose by 0.1% in April following a 0.6% decrease in March.In corporate news, JPMorgan Chase (JPM) is in discussions with investors over a deal to offload some of its risk exposure to over $4 billion in private equity-linked net asset value loans, the Financial Times reported. JPMorgan shares rose 1.4%.Citigroup (C) plans to direct a substantial portion of its wealth management hiring toward Asia, Reuters reported, citing an interview with Andy Sieg, head of the bank's global wealth business. Citi shares added 0.6%.KKR-backed (KKR) space company OHB and weapons manufacturer KNDS are considering moving their planned share sales to avoid a clash with SpaceX's (SPCX) initial public offering in the US, Bloomberg reported. KKR shares were down 0.5%.

$C$JPM$KKR
Sectors

Sector Update: Financial

Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.6%.The Philadelphia Housing Index was decreasing 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was little changed.Bitcoin (BTC-USD) was declining 0.9% to $76,888, and the yield for 10-year US Treasuries was down 1.4 basis points at 4.57%.In corporate news, KKR-backed (KKR) space company OHB and weapons manufacturer KNDS are considering moving their planned share sales to avoid a clash with SpaceX's (SPCX) initial public offering in the US, Bloomberg reported. KKR shares were down 0.5%.

$KKR
Wire

Update: Market Chatter: KKR-Backed OHB and KNDS Mull Changes to Share Sale Timeline Amid SpaceX IPO

(Updates with OHB's response in the last paragraph.)KKR-backed (KKR) space company OHB and weapons manufacturer KNDS are considering moving their planned share sales to avoid a clash with SpaceX's (SPCX) initial public offering in the United States, Bloomberg reported Friday, citing people familiar with the matter.Both OHB and KNDS had plans to commence their offerings on June 12, the same day as the highly anticipated SpaceX IPO, the report said.The report stated that any potential delays in the share sales will be short.OHB declined to comment, while KNDS did not immediately respond to requests 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: $95.30, Change: $+0.54, Percent Change: +0.57%

$KKR$SPCX
Sectors

Sector Update: Financial Stocks Higher Late Afternoon

Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index up 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally higher.The Philadelphia Housing Index was adding 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was increasing 0.1%.Bitcoin (BTC-USD) was fractionally higher at $77,492, and the yield for 10-year US Treasuries rose 1.4 basis points to 4.586%.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate.In corporate news, Ares Management (ARES) has raised about $850 million so far for its inaugural closed-ended real estate debt fund, with the firm targeting a total of $1.5 billion for Ares Real Estate Debt Strategies, Bloomberg reported. Ares shares rose 1.1%.KKR (KKR) signed a definitive deal to sell its Circor Aerospace division to Parker-Hannifin (PH) for $2.55 billion, according to a Thursday statement. Funds managed by KKR will continue to own Circor's naval and industrial businesses after the deal. KKR shares were down 0.2%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said the investment bank will likely hire more AI specialists and fewer bankers, Bloomberg reported, citing an interview. JPMorgan Chase shares were up 0.3%.Chubb (CB) said Thursday its board has authorized a new $7.5 billion share buyback program, starting July 1 with no expiration date. The company also said its quarterly cash dividend was increased to $1.02 per share from $0.97, payable on July 2 to shareholders of record as of June 12. Its shares added 0.5%.

$ARES$CB$JPM$KKR
Sectors

Sector Update: Financial Stocks Mixed Thursday Afternoon

Financial stocks were mixed in Thursday afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF (XLF) up 0.2%.The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.2%.Bitcoin (BTC-USD) was rising 0.6% to $77,915, and the yield for 10-year US Treasuries was steady around 4.572%.In economic news Thursday, US initial jobless claims fell to 209,000 in the week ended May 16 from an upwardly revised 212,000 in the previous week, compared with expectations for 210,000 in a Bloomberg-compiled survey.The May flash reading of manufacturing conditions from S&P Global rose to 55.3, a 48-month high, from 54.5 in April, compared with the 53.8 anticipated in a Bloomberg-compiled poll.April housing starts fell 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg for a 1.410 million rate.In corporate news, KKR (KKR) signed a definitive deal to sell its Circor Aerospace division to Parker-Hannifin (PH) for $2.55 billion, according to a Thursday statement. Funds managed by KKR will continue to own Circor's naval and industrial businesses after the deal. KKR shares were up 0.3%.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said the investment bank will likely hire more AI specialists and fewer bankers, Bloomberg reported, citing an interview. JPMorgan Chase shares were up 0.5%.Chubb (CB) said Thursday its board has authorized a new $7.5 billion share buyback program, starting July 1 with no expiration date. The company also said its quarterly cash dividend was increased to $1.02 per share from $0.97, payable on July 2 to shareholders of record as of June 12. Its shares added 0.6%.

$CB$JPM$KKR
Sectors

Sector Update: Financial

Financial stocks edged lower in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each easing about 0.1%.The Philadelphia Housing Index was down 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.2%.Bitcoin (BTC-USD) was rising 0.6% to $77,915, and the yield for 10-year US Treasuries was steady around 4.572%.In corporate news, KKR (KKR) signed a definitive deal to sell its Circor Aerospace division to Parker-Hannifin (PH) for $2.55 billion, according to a Thursday statement. Funds managed by KKR will continue to own Circor's naval and industrial businesses after the deal. KKR shares were down 0.3%.

$KKR
Wire

KKR Selling CIRCOR Aerospace Division to Parker-Hannifin for $2.55 Billion

KKR (KKR) signed a definitive deal to sell its CIRCOR Aerospace division to Parker-Hannifin (PH) for $2.55 billion, according to a Thursday statement.Funds managed by KKR will continue to own CIRCOR's naval and industrial businesses following the transaction, KKR said. The acquisition is expected to close in H2, the company added.Price: $93.76, Change: $-0.59, Percent Change: -0.63%

$KKR$PH
Wire

KKR to Sell CIRCOR Aerospace Division to Parker-Hannifin for $2.55 Billion

KKR to Sell CIRCOR Aerospace Division to Parker-Hannifin for $2.55 Billion

$KKR$PH
Sectors

Sector Update: Financial Stocks Fall Premarket Thursday

Financial stocks were falling premarket Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 1.1% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.9% higher.S&P Global (SPGI) shares were down more than 1% after the company said its board of directors has approved the planned spinoff of its mobility division.JPMorgan Chase (JPM) Chief Executive Jamie Dimon said the investment bank will likely hire more artificial intelligence specialists and fewer bankers, Bloomberg reported, citing an interview. JPMorgan Chase stock was 0.4% lower pre-bell.KKR (KKR) has made an $80 million primary growth investment in Fresha in a transaction valuing the AI-powered beauty and wellness platform at over $1 billion, Fresha said. KKR shares were down 2.3% premarket.

$FAS$FAZ$JPM$KKR$SPGI$XLF
Wire

Market Chatter: Eni Engages Morgan Stanley to Explore Potential LNG Assets Deal With Certain Funds

Eni (E) has asked Morgan Stanley (MS) to help it raise funds from investors, including Apollo (APO), KKR (KKR), and Stonepeak, in a potential deal backed by its floating liquefied natural gas assets, Reuters reported Tuesday, citing people familiar with the matter.The discussions are still at an early stage and may not result in a deal, the report said. It added that, if completed, the transaction could raise at least 1 billion euros for Eni.Apollo, Eni, KKR, Morgan Stanley, and Stonepeak declined to comment to Reuters. The companies didn't immediately reply to' request 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: $55.49, Change: $+0.02, Percent Change: +0.05%

$APO$E$KKR$MS
Wire

Top Midday Stories: Moderna Working on Hantavirus Vaccine, Shares Rise; Blackstone, Halliburton to Invest Combined $1 Billion in VoltaGrid

The three major US stock indexes were up slightly in late-morning trading Monday after President Donald Trump said Sunday on Truth Social that he has rejected Iran's latest proposal to end the war.In company news, Moderna (MRNA) said it has been working on early-stage vaccines targeting hantaviruses, Bloomberg reported. The research began before recent infections were reported aboard the Dutch-flagged Hondius, the report said, citing the company. Moderna shares were up 4.9% around midday.Blackstone (BX) and Halliburton (HAL) will invest a combined $1 billion into energy startup VoltaGrid in a deal that values the company at over $10 billion, Bloomberg reported Monday, citing people familiar with the matter. Separately, Blackstone agreed to acquire a majority stake in Greek online marketplace Skroutz from CVC Capital Partners, Bloomberg reported Monday. Financial terms of the deal were not disclosed, though people familiar with the matter reportedly told Bloomberg it values Skroutz at 635 million euros. Lastly, Blackstone Real Estate Debt Strategies has launched a lending platform to provide capital and flexibility to US homebuilders, the company said Monday. Blackstone shares were down 1.0%, while Halliburton shares were up 0.6%.Cerebras Systems is planning to increase the size and price of its initial public offering, the company said in a regulatory filing. Cerebras plans to raise its IPO price to a range of $150 to $160 per share from $115 to $125 per share and increase the number of shares marketed to 30 million from 28 million.Apollo Global Management (APO) said Monday its managed funds signed definitive agreements to buy Emerald Holding (EEX) and Questex to form a combined business events platform. The company will pay $5.03 per share to acquire Emerald, assigning the target company an expected value of about $1.50 billion, the company said. Separately, Apollo is in talks to sell its MidCap Financial Investment (MFIC) business development company, The Wall Street Journal reported Sunday, citing people familiar with the matter. Apollo values the business at around $3 billion, the report said, citing the sources. Apollo shares were down 0.8%, while Emerald shares were up 9.3% and MidCap shares were down 2.6%.FS KKR Capital (FSK) reported a Q1 loss Monday of $1.57 per diluted share. Total Q1 investment income was $304 million down from $400 million a year ago and below the FactSet consensus analyst estimate of $316.8 million. The company said Monday that KKR's (KKR) KKR Alternative Assets unit will launch a tender offer to buy up to $150 million of FS KKR Capital's shares at $11 each. The offering will begin Tuesday and is expected to expire on June 9, the company said. KKR Alternative Assets agreed to buy $150 million in newly issued shares of cumulative convertible perpetual preferred stock, FS KKR Capital said Sunday. FS KKR shares were up 0.5%, while KKR shares were down 2.8%.Alphabet (GOOG, GOOGL) on Monday filed a preliminary prospectus supplement with the SEC for a multi-tranche yen-denominated bond offering targeting qualified institutional investors in Japan. The offering consists of five series of notes with varying maturities and interest rates, with all payments to be made in Japanese yen, the filing said. Alphabet's Class C and Class A shares were down 1.8% and 1.9%, respectively.Walt Disney's (DIS) ABC network has been the victim of "sustained, coordinated" censorship by the Trump administration, Federal Communications Commissioner Anna Gomez said in a letter to Disney Chief Executive Josh D'Amaro, The Wall Street Journal reported Monday, citing the letter, which it viewed. Disney shares were down 2.0%.Price: $54.87, Change: $+0.52, Percent Change: +0.95%

$APO$BX$DIS$EEX$FSK$GOOG$GOOGL$HAL$KKR$MFIC$MRNA
Sectors

Sector Update: Financial Stocks Fall Late Afternoon

Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index down 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.6%.The Philadelphia Housing Index dropped 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.7%.Bitcoin (BTC-USD) fell 1.8% to $79,934, and the yield for 10-year US Treasuries rose 3.6 basis points to 4.39%.In economic news, employers in the US announced 83,387 job cuts in April, up from 60,620 in March, Challenger, Gray & Christmas said Thursday.US consumer credit use jumped by $24.8 billion in March, compared with a $13.5 billion increase expected in a survey compiled by Bloomberg and following an $8.9 billion increase in the previous month.In corporate news, KKR (KKR) shares decreased 0.8% after Argus lowered the company's price target to $115 from $120.Blackstone (BX) and I Squared are considering making a bid for Stroeer that may value the German media group at 2.5 billion euros ($2.94 billion), Bloomberg reported. Blackstone shares were down 2%.Citigroup (C) Chief Executive Jane Fraser said Thursday at the bank's Investor Day that Citi expects its return on tangible common equity to hit a range of 11% to 13% in 2027 and 2028, up from 10% to 11% currently, before rising further to 14% to 15% from 2029 to 2031, according to a slide deck the company published. Citi shares rose 1.8%.JPMorgan Chase (JPM) and Citigroup were sued by China's HY Energy over alleged failure of funds transfer, Bloomberg reported. JPMorgan shares fell 2.6%.

$BX$C$JPM$KKR
Sectors

Sector Update: Financial

Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index down 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.6%.The Philadelphia Housing Index dropped 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.7%.Bitcoin (BTC-USD) fell 1.8% to $79,934, and the yield for 10-year US Treasuries rose 3.6 basis points to 4.39%.In corporate news, KKR (KKR) shares decreased 0.7% after Argus lowered the company's price target to $115 from $120.

$KKR
Wire

Argus Lowers Price Target on KKR to $115 From $120

KKR (KKR) has an average rating of buy and mean price target of $123.94, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $100.51, Change: $-0.28, Percent Change: -0.28%

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