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Sector Update: Energy Stocks Lean Lower Pre-Bell Thursday

Energy stocks were leaning lower pre-bell Thursday, with the State Street Energy Select Sector SPDR ETF (XLE) declining by 0.3%.The United States Oil Fund (USO) and United States Natural Gas Fund (UNG) were 0.8% higher.Front-month US West Texas Intermediate crude oil was 0.5% higher at $82.63 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $88.66 per barrel, and natural gas futures were up 1.2% at $2.88 per 1 million British Thermal Units.Enbridge (ENB) signed a definitive agreement with KKR (KKR) to form a joint venture that will invest about $2.7 billion Canadian dollars ($1.94 billion) to fund the expansion of the Aspen Point and Sunrise programs on the Westcoast natural gas pipeline system, the company said. Enbridge shares were marginally lower premarket.BP (BP) is pressing the United Steelworkers to return to the bargaining table and agrees to federal mediation concerning the company's Whiting, Indiana refinery, according to a letter sent to union leaders. BP stock was 0.2% higher premarket.Nabors Industries (NBR) has completed a $35 million strategic investment in Quaise Energy, making it the largest shareholder in the latter with a 14% stake. Nabors Industries shares were down 0.2% pre-bell.

$BP$ENB$KKR$NBR$UNG$USO$XLE

US Markets18d ago

Nvidia's Second-Quarter Results More Than Double Amid Record Data Center Sales

Nvidia's (NVDA) fiscal second-quarter results more than doubled from a year ago and topped Wall Street expectations amid record data center sales.The technology bellwether's revenue climbed 106% annually to $96.22 billion, exceeding the consensus on FactSet indicating $92.27 billion. Adjusted per-share earnings increased to $2.22 in the three months ended July 26 from $1.01 a year earlier. Analysts expected $2.11.Data center revenue jumped 117% to a record $89.02 billion, driven by its Blackwell Ultra graphics processing unit infrastructure, Chief Financial Officer Colette Kress said. Consensus pointed to $86.30 billion in data center sales."AI has reached its inflection point. It's doing useful work. Its tokens are productive and profitable. Now, compute is revenue," Chief Executive Jensen Huang said in a statement. "The AI infrastructure buildout is at full steam. Vera Rubin, now in full production, was built to power exactly this moment."Vera Rubin is Nvidia's next-generation AI supercomputing platform.Hyperscale revenue rallied 102% from the prior-year quarter, while the AI cloud, industrial and enterprise segment surged 138%."Nvidia has become both the largest direct beneficiary and one of the best real-time indicators of AI infrastructure investment," Ivan Feinseth, chief market strategist at Tigress Financial Intelligence, said in a note to clients this week.For the fiscal third quarter, the company expects consolidated revenue of $108 billion, plus or minus 2%. Wall Street expects $104.86 billion.Wedbush Analyst Matt Bryson expected Nvidia's third-quarter revenue guidance to top expectations, according to a note sent to clients ahead of Wednesday's release. Bryson reiterated his outperform rating and a $330 price target on the company."We again expect (Nvidia) to exceed its guidance and to guide October above Street, given a strong hyperscale spending backdrop that firmed further through (second-quarter) earnings, and a supply position we continue to view as the best in the industry at a point where component and material access, not end demand, is defining shipments," the analyst said.The chipmaker's stock slipped 0.3% in after-hours trading, and had gained about 12% this year through Wednesday close.Earlier in August, Nvidia said it partnered with six major financial institutions to launch compute financing platforms aimed at raising over $500 billion in third-party capital to support its AI infrastructure. Those six firms are Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BAM), Goldman Sachs (GS) and KKR (KKR).Previously, Nvidia agreed to expand its partnership with South Korean conglomerate SK Group with a more than $500 billion AI infrastructure initiative.In August, chipmaker Advanced Micro Devices (AMD) posted fiscal second-quarter results that beat estimates and issued third-quarter revenue guidance above Wall Street's views.Intel's (INTC) second-quarter results topped analysts' consensus in July. Semiconductor manufacturer Broadcom (AVGO) is scheduled to report fiscal third-quarter results Sept. 2.

$AMD$APO$AVGO$BAM$BLK$BX$GS$INTC$KKR$NVDA

Sectors19d ago

Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks were edging higher late Tuesday afternoon, with the NYSE Financial Index up 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.1%.The Philadelphia Housing Index increased 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) advanced 0.1%.Bitcoin (BTC-USD) was shedding 0.3% to $78,919, and the yield for 10-year US Treasuries dropped 7.9 basis points to 4.63%.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said Tuesday. The consumer confidence index fell to 89.4 this month from July's reading of 90.2, which was the consensus in a Bloomberg survey.In corporate news, UBS (UBS) is expanding its efforts to offer customers deposits with Middle East lenders to take advantage of higher regional savings rates, Bloomberg reported. UBS shares rose 1.1%.Apollo Global Management (APO), KKR (KKR) and IFM Investors are the finalists for a majority stake in Associated British Ports, the UK's largest port operator, Bloomberg reported. Apollo shares rose 0.3%, and KKR was up 0.2%.Alphabet's (GOOGL) Google Cloud said Tuesday it has launched a new agentic AI service for financial professionals, with Deutsche Bank (DB) and CME (CME) among those firms granted early access. Deutsche shares rose 1.6%, and CME was down 0.7%.Bank of Nova Scotia (BNS) shares jumped past 7% after it reported better-than-expected Q3 results.

$APO$BNS$CME$DB$KKR$UBS

Sectors19d ago

Sector Update: Financial Stocks Mixed Tuesday Afternoon

Financial stocks were mixed in Tuesday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally lower.The Philadelphia Housing Index was decreasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) advanced 0.2%.Bitcoin (BTC-USD) was up 0.3% at $78,980, and the yield for 10-year US Treasuries dropped 6.1 basis points to 4.643%.In economic news, US consumer confidence fell in August amid a decline in the expectations index, with a "more pessimistic" outlook for business conditions and the labor market ahead, the Conference Board said Tuesday. The consumer confidence index fell to 89.4 this month from July's reading of 90.2, which was the consensus in a Bloomberg survey.In corporate news, Apollo Global Management (APO), KKR (KKR) and IFM Investors are the finalists for a majority stake in Associated British Ports, the UK's largest port operator, Bloomberg reported. Apollo shares eased 0.1%, and KKR was up 0.2%.Alphabet's (GOOGL) Google Cloud said Tuesday it has launched a new agentic AI service for financial professionals, with Deutsche Bank (DB) and CME (CME) among those firms granted early access. Deutsche shares rose 1%, and CME was down 0.6%.Bank of Nova Scotia (BNS) shares jumped past 6% after the company reported better-than-expected Q3 results.JPMorgan Chase (JPM) is easing a 135-day restriction on lending against shares of newly listed companies as Wall Street targets wealth created by IPO of AI companies, the Financial Times reported. Separately, JPMorgan and Santander (SAN) are leading a financing package of roughly $14 billion to $15 billion for Argentina LNG, Bloomberg reported. JPMorgan shares were down 0.2%, and Santander shed 0.8%.

$APO$BNS$CME$DB$JPM$KKR$SAN

Sectors19d ago

Sector Update: Financial

$APO$KKR

Wire19d ago

Market Chatter: Buyout Firms Consider Bids for Siemens Energy's Steam Turbine

Siemens Energy's steam turbine business could draw majority-stake bids from investment firms CVC Capital and EQT (EQT) AB, Bloomberg reported Tuesday, citing people familiar with the matter.Its Transformation of Industry division may attract offers from Bain Capital (BCSF), Brookfield (BN), and KKR (KKR), according to the report.The company's board of directors is set to meet on Tuesday to discuss possible divestments, while buyout firms' offers remain uncertain, sources told the news agency. The Transformation of Industry division could reportedly be valued at more than 10 billion euros ($11.67 billion)."No decisions have been made. We will communicate any material developments," a Siemens Energy spokesperson told. Siemens' financial adviser for the potential deals is Goldman Sachs (GS).Bain Capital, KKR, and CVC declined to comment, while EQT, Brookfield, and Goldman Sachs did not immediately respond to requests for feedback.(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.)

$BCSF$BN$EQT$GS$KKR

Wire19d ago

Market Chatter: Apollo, KKR Said to be Finalists for Majority Stake in UK's Biggest Port Operator

Apollo Global Management (APO), KKR (KKR) and IFM Investors are the finalists for a majority stake in Associated British Ports, the UK's largest port operator, Bloomberg reported Tuesday, citing people familiar with the matter.Canada Pension Plan Investment Board and Omers Administration are looking to sell their combined 64% stake in the business in a deal that values AB Ports at 10 billion British pounds ($13.6 billion), the report said, citing the people.The final round of bidding is ongoing and there is no guarantee that a deal will be reached, the people reportedly told Bloomberg.Apollo, KKR, IFM and AB Ports 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: $131.51, Change: $-1.28, Percent Change: -0.96%

$APO$KKR

Wire19d ago

Apollo, KKR Said to be Finalists for Majority Stake in UK's Biggest Port Operator, Bloomberg Reports

$APO$KKR

Sectors23d ago

Sector Update: Financial Stocks Climb Late Afternoon

Financial stocks advanced in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 1%.The Philadelphia Housing Index increased 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was slightly higher.Bitcoin (BTC-USD) popped 6.1% to $77,144, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.74%.In economic news, Bureau of Labor Statistics data revealed that the unemployment rate fell in 10 US States in July and remained steady elsewhere. The largest unemployment rate declines were observed in South Carolina, Ohio, Illinois, Washington, Pennsylvania, New York, and Rhode Island. The national unemployment rate was reported at 4.1% in July, down from 4.2% in June.The August flash reading of manufacturing conditions from S&P Global fell to 53.2 from 53.9 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index for services conditions rose to 56.8 in August from 54.6 in July, compared with expectations for a decrease to 54.In corporate news, the US Securities and Exchange Commission has sued former Bank of America (BAC) investment banker Jason Satsky for tipping insider information to a friend, who allegedly made $18.5 million in illegal profits, Bloomberg reported. Satsky, who previously worked as Bank of America's head of energy and power infrastructure banking, tipped Gavin Wolfe about an acquisition proposal for South Jersey Industries in Nov. 2021, the report said. Bank of America shares were down 0.2%.Apollo Global Management (APO) said in a letter Friday that a social-engineering attack targeted some cloud platforms between July 6 and July 10, resulting in a data breach. The company said information potentially impacted by the incident included names, dates of birth, contact information, home addresses, and Social Security numbers. Apollo shares were up 2%.Goldman Sachs (GS) is gaining ground in India's government share-sale market, securing mandates for five of the 10 major transactions since the latest divestment wave began in December, Bloomberg reported. Goldman shares rose 3.6%.KKR (KKR), alongside Dragoneer Investment and insurance distributor Amwins, has agreed to buy Steadfast in a deal worth about 7.7 billion Australian dollars ($5.52 billion), the Australian insurance broking giant said Friday. KKR shares added 1.6%.

$APO$BAC$GS$KKR

Sectors23d ago

Sector Update: Financial Stocks Rise in Afternoon Trading

Financial stocks advanced in Friday afternoon trading, with the NYSE Financial Index rising 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.7%.The Philadelphia Housing Index added 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%.Bitcoin (BTC-USD) popped 6% to $77,370, and the yield for 10-year US Treasuries rose 4.2 basis points to 4.74%.In economic news, the Bureau of Labor Statistics said that the unemployment rate fell in 10 states in July and held steady elsewhere as the national jobless rate declined to 4.1% from 4.2% in June.The August flash reading of manufacturing conditions from S&P Global declined to 53.2 from 53.9 in July, compared with expectations for no change in a survey compiled by Bloomberg.The index for services conditions rose to a 20-month high reading of 56.8 in August from 54.6 in July, compared with expectations for a decrease to 54.0.In corporate news, Apollo Global Management (APO) said in a letter Friday that a social-engineering attack targeted some cloud platforms between July 6 and July 10, resulting in a data breach. The company said information potentially impacted by the incident included names, dates of birth, contact information, home addresses, and Social Security numbers. Apollo shares were up 2%.Goldman Sachs (GS) is gaining ground in India's government share-sale market, securing mandates for five of the 10 major transactions since the latest divestment wave began in December, Bloomberg reported. Goldman shares rose 2.7%.KKR (KKR), alongside Dragoneer Investment and insurance distributor Amwins, has agreed to buy Steadfast in a deal worth about 7.7 billion Australian dollars ($5.52 billion), the Australian insurance broking giant said Friday. KKR shares added 1.2%.

$APO$GS$KKR

Sectors23d ago

Sector Update: Financial Stocks Advance Pre-Bell Friday

Financial stocks were advancing pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) up 0.5%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.1%.KKR (KKR), with Dragoneer Investment Group (DGNR) and insurance distributor Amwins, agreed to acquire Steadfast Group in a deal worth approximately 7.7 billion Australian dollars ($5.52 billion), the Australian insurance broking giant said. KKR shares were up more than 2% premarket.Goldman Sachs (GS) is gaining ground in India's government share-sale market, securing mandates for five of the 10 major transactions since the latest divestment wave began in December, Bloomberg reported. Goldman Sachs stock was 1% higher pre-bell.Citigroup (C) may be added to the group of investment banks advising Anthropic on a potential initial public offering, joining Morgan Stanley (MS), Goldman Sachs and JPMorgan Chase (JPM), Bloomberg reported. Citigroup shares were up more than 1% premarket.

$C$FAS$FAZ$GS$JPM$KKR$MS$XLF

Commodities23d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday as Bitcoin Moves Past $77,000

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.7% higher in Friday's premarket activity as Bitcoin moved past $77,000 in one of its best weeks.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.6%, and Nasdaq futures gaining 0.8% before the start of regular trading.The S&P Global flash Composite Purchasing Managers' Index for August will be released at 9:45 am ET.In premarket activity, bitcoin was up by 5.5%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 6% higher, Ether ETF (EETH) advanced 2.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was 0.02% lower.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.2%, while the iShares US Healthcare ETF (IYH) advanced 3.3%. The iShares Biotechnology ETF (IBB) was 0.6% higher.Aveanna Healthcare (AVAH) stock was down more than 3% premarket after the company said Thursday that selling stockholders priced a secondary public offering of 15 million common shares at $11.75 apiece.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.9%, while the Vanguard Industrials Index Fund (VIS) was up 1.4%, and the iShares US Industrials ETF (IYJ) was flat.GE Vernova (GEV) stock was up nearly 2% before the opening bell after the company said it was selected by Quinbrook for the third stage of the Supernode battery energy storage project in Queensland, Australia, expanding its technology role across all three stages of the development.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) gained 0.2%, and the iShares US Consumer Staples ETF (IYK) advanced 0.1%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increased 0.6%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.9% higher.Tesla (TSLA) shares were up more than 1% pre-bell, following a 1.7% retreat in the previous session. China's State Administration for Market Regulation said the EV-maker is recalling more than 5.7 million vehicles in China over two separate safety issues involving emergency door handles and driver-attention monitoring.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.5%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.2% lower.KKR (KKR), alongside Dragoneer Investment Group (DGNR) and insurance distributor Amwins, has agreed to acquire Steadfast Group in a deal worth approximately 7.7 billion Australian dollars ($5.52 billion). Shares of KKR were up more than 1% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.8%, the iShares US Technology ETF (IYW) was 0.9% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.4%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased 1.3%, while the iShares Semiconductor ETF (SOXX) rose by 1.6%.Broadcom (AVGO) shares were up more than 1% in premarket activity after Bloomberg News reported late Thursday that the company is in discussions with a group of lenders to raise as much as $100 billion in debt for an artificial intelligence chip financing deal.EnergyThe iShares US Energy ETF (IYE) gained 0.8%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.1%.Vistra (VST) stock was up more than 1% before market open after Morgan Stanley lifted its price target to $227 from $212.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $86.99 per barrel on the New York Mercantile Exchange. Natural gas was up 1% at $2.76 per 1 million British Thermal Units. The United States Oil Fund (USO) increased 0.6%, while the United States Natural Gas Fund (UNG) was 0.6% higher.Gold futures for November advanced by 1.3% to $4,628.70 an ounce on the Comex. Silver futures rose 1.8% to $70.14 an ounce. SPDR Gold Shares (GLD) gained 1.1%, and the iShares Silver Trust (SLV) was 1.7% higher.

Dow JonesNasdaq CompositeS&P 500$AVAH$AVGO$BETH$BITO$DGNR$EEM$EETH$EXI$FAS$FAZ$GEV$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$KKR$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$VST$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Sectors23d ago

Sector Update: Financial

$DGNR$KKR

Sectors24d ago

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

Sectors24d ago

Sector Update: Financial

Financial stocks declined in late Thursday afternoon trading, with the NYSE Financial Index down 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.7%.The Philadelphia Housing Index was falling 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.5%.Bitcoin (BTC-USD) popped 4.7% to $72,554, and the yield for 10-year US Treasuries rose 3.9 basis points to 4.69%.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. KKR shares were down 2.9%. Bloomberg separately reported that the Falcons are in discussions to sell a 10% stake to Arctos.

$KKR

Wire24d ago

KKR's Arctos Reportedly Agrees to Buy 10% Stake in Atlanta Falcons

KKR's (KKR) Arctos is in talks to purchase 10% of the Atlanta Falcons at a $10.6 billion valuation, CNBC reported Thursday, citing two sources familiar with the matter.Bloomberg separately reported that the Falcons are in discussions to sell a 10% stake to Arctos.Arctos didn't immediately reply to a request for comment from.Price: $107.88, Change: $-2.58, Percent Change: -2.34%

$KKR

Wire24d ago

KKR's Arctos Reportedly Agrees to Buy 10% Stake in Atlanta Falcons

$KKR

Sectors25d ago

Sector Update: Financial Stocks Softer Wednesday Afternoon

Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.2%.The Philadelphia Housing Index was climbing 3.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.2%.Bitcoin (BTC-USD) was increasing 2.8% to $66,470, and the yield for 10-year US Treasuries was dropping 4.4 basis points to 4.662%.In economic news, 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, 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 1.3%.The Canada Pension Plan Investment Board is pursuing infrastructure deals via private deals with KKR (KKR), Blackstone (BX), and BlackRock (BLK) rather than relying solely on direct investments, the Financial Times reported. KKR shares rose 3.4%, and Blackstone was up 3.2%.Progressive (PGR) shares added nearly 4% after it reported that net premiums earned in July were $7.36 billion, up from $6.99 billion a year earlier.

$BLK$BX$KKR$PGR

Sectors25d ago

Sector Update: Financial Stocks Edge Higher in Wednesday Trading

Financial stocks were edging higher in early Wednesday trading, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.3% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 0.3%.Progressive (PGR) shares were up more than 3% after the company reported that net premiums earned in July were $7.36 billion, compared with $6.99 billion a year earlier.KKR (KKR) stock was up 2.5% a day after the company and BookMyShow said that funds managed by KKR will acquire a minority stake in the Indian entertainment company.The European Commission said Wednesday that Morgan Stanley (MS) Infrastructure had been approved to acquire sole control of French companies Nicollin, Societe Mediterraneenne de Nettoiement, Nicollin Holding Environnement, Nicollin Eau and MP3D Groupe. Shares of Morgan Stanley were down less than 1%.

$FAS$FAZ$KKR$MS$PGR$XLF

Sectors26d ago

Sector Update: Financial Stocks Mixed Tuesday

Financial stocks were mixed Tuesday with the NYSE Financial Index little changed, erasing earlier gains, and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.5%.The Philadelphia Housing Index fell 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) dropped 0.5%.Bitcoin (BTC-USD) rose 0.4% to $64,713, and the yield for 10-year US Treasuries fell 1.8 basis points to 4.706%.In economic news, US housing starts fell more than expected in July amid declines in both single and multifamily units, while building permits jumped to a five-month high, government data showed.US pending home sales dropped 2.3% in July from June, data from the National Association of Realtors showed, while the consensus was for sales to be flat in a survey compiled by Bloomberg.In sector news, Amazon.com-backed (AMZN) Anthropic's revolving credit facility is close to surpassing its $10 billion target as the AI company prepares for its initial public offering, Bloomberg reported.In corporate news, Klarna (KLAR) shares tumbled 23% after the company cut its 2026 revenue outlook and announced the departures of the chief financial officer and the chief marketing officer, effective early 2027.KKR (KKR) offered to buy natural gas and electricity distributor UGI (UGI) for $42.50 a share, or $9 billion, the Wall Street Journal reported. KKR shares fell 1.5%.Goldman Sachs (GS) agreed to buy commercial real estate investor LCN Capital Partners for up to $410 million, Bloomberg reported, Goldman shares dropped 1.1%.Blackstone-backed (BX) QTS Realty Trust units began a high-grade bond sale to help fund the construction of a data center tied to Microsoft (MSFT), Bloomberg reported. Blackstone shares were little changed.

$BX$GS$KKR$KLAR

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