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Sectors

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) 1.3% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 3.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.7% lower.UBS Group (UBS) has accepted $7.93 billion aggregate principal amount of notes in its cash tender offers for nine series of debt securities and upsized its maximum offer amount to about $5.85 billion from $4 billion, the company said. Shares of UBS Group were up more than 1% premarket.Blackstone (BX) intends to purchase many more tensor processing units from Alphabet (GOOG, GOOGL) unit Google than initially outlined, The Information reported, citing a person familiar with the matter. Blackstone stock was 0.7% higher pre-bell.Thomson Reuters (TRI) priced a US public offering by its subsidiary, TR Finance, of $800 million of 5.1% notes due 2028 and $500 million of 5.750% notes due 2033. Thomson Reuters shares were up more than 1% premarket.

$BX$FAS$FAZ$GOOG$GOOGL$TRI$UBS$XLF
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Amid Inflation Data Release

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.8% and the actively traded Invesco QQQ Trust (QQQ) was 1% higher in Friday's premarket activity amid inflation data release.US stock futures were also higher, with S&P 500 Index futures up 0.7%, Dow Jones Industrial Average futures advancing 0.7%, and Nasdaq futures gaining 0.8% before the start of regular trading.The US seasonally adjusted consumer price index, a measure of inflation, rose by 0.4% in August, as expected, and following a 0.1% increase in July, according to data released by the Bureau of Labor Statistics.The preliminary University of Michigan consumer sentiment reading for September will be released at 10 am ET.In premarket activity, bitcoin was down by 0.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.2% lower, Ether ETF (EETH) retreated 0.5%, and Bitcoin & Ether Market Cap Weight ETF (BETH) lost 0.04%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.9%, while the Vanguard Industrials Index Fund (VIS) and the iShares US Industrials ETF (IYJ) were inactive.Copart (CPRT) stock was up more than 6% after the company agreed to acquire ACV Auctions (ACVA) for $10.50 per share in cash, valuing the company at about $1.90 billion. ACV Auctions shares were up 44% premarket.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 1.1%, the iShares US Technology ETF (IYW) was 0.7% higher, and the iShares Expanded Tech Sector ETF (IGM) was inactive. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 0.7%, while the iShares Semiconductor ETF (SOXX) rose by 1.4%.Adobe (ADBE) shares were down 3% after the software maker provided a fiscal Q4 revenue outlook below analyst estimates at the midpoint.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.5%, while the Vanguard Health Care Index Fund (VHT) and the iShares US Healthcare ETF (IYH) were inactive. The iShares Biotechnology ETF (IBB) was flat.Exelixis (EXEL) stock was down more than 3% premarket after the company said that the US Food and Drug Administration extended the review period for its new drug application for its metastatic colorectal cancer candidate, zanzalintinib, in combination with atezolizumab, by three months.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.7%. Direxion Daily Financial Bull 3X Shares (FAS) was up 2%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 2.2% lower.UBS Group (UBS) shares were up 2% in early hours activity after the company said it has accepted $7.93 billion aggregate principal amount of notes in its cash tender offers for nine series of debt securities and upsized its maximum offer amount to about $5.85 billion from $4 billion.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.4%, while the Vanguard Consumer Staples Index Fund ETF Shares (VDC) and the iShares US Consumer Staples ETF (IYK) were inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.4%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Kroger (KR) shares were down nearly 2% pre-bell after the company cut its guidance for full-year identical sales, excluding fuel.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) was down 0.8%.Petrobras (PBR) stock was up more than 1% before market open after Reuters reported Thursday that the company plans to increase diesel prices at its refineries by roughly 1 Brazilian reais ($0.20), though the state-run oil company is waiting for government measures to protect consumers from the move.CommoditiesFront-month US West Texas Intermediate crude oil was down by 3.1% at $99.30 per barrel on the New York Mercantile Exchange. Natural gas was 1.8% lower at $2.78 per 1 million British Thermal Units. The United States Oil Fund (USO) declined 2.8%, while the United States Natural Gas Fund (UNG) retreated 1.6%.Gold futures for November were down by 1.4% at $4,346.10 an ounce on the Comex. Silver futures retreated 1.8% to $63.77 an ounce. SPDR Gold Shares (GLD) increased 0.9%, and the iShares Silver Trust (SLV) was 1.4% higher.

Dow JonesNasdaq CompositeS&P 500$ACVA$ADBE$CPRT$EXEL$FAS$FAZ$GLD$IBB$IGM$IYE$IYH$IYJ$IYK$IYW$KR$PBR$QQQ$RTH$SLV$SOXX$SPY$UBS$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Financial

Financial stocks were advancing pre-bell Friday, with the State Street Financial Select Sector SPDR ETF (XLF) 1.3% higher.The Direxion Daily Financial Bull 3X Shares (FAS) was up 3.4% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.7% lower.UBS Group (UBS) has accepted $7.93 billion aggregate principal amount of notes in its cash tender offers for nine series of debt securities and upsized its maximum offer amount to about $5.85 billion from $4 billion, the company said. Shares of UBS Group were up more than 1% premarket.

$UBS
Treasury

Update: UBS Group Accepts $7.93 Billion of Notes in Debt Tender Offers

(Updates headline and adds information from the UBS press release in the first and fourth paragraph. Also includes background details in the fifth paragraph.)UBS Group (UBS) has accepted $7.93 billion aggregate principal amount of notes in its cash tender offers for nine series of debt securities and upsized its maximum offer amount to about $5.85 billion from $4 billion, the company said Friday.The offers expired at 5 pm ET Thursday, with settlement expected Monday.The company said all maximum purchase notes that have been validly tendered by the expiration date have been accepted for purchase.The accepted notes include securities denominated in US dollars, euros and British pounds, with maturities from 2028 through 2033, UBS said.Legacy Credit Suisse debt on UBS' books has fallen to about $29 billion from about $90 billion at the time of the 2023 takeover, and the buyback is UBS' largest debt repurchase to date, according to a Bloomberg report.

$UBS
Treasury

UBS Details Results, Upsizing of Debt Tender Offers

UBS Group (UBS) has upsized its cash tender offers for certain of its debt securities to about $5.85 billion from $4 billion, the company said Friday.The offers expired at 5 pm ET Thursday, with settlement expected Monday.The company said all maximum purchase notes that have been validly tendered by the expiration date have been accepted for purchase.

$UBS
Sectors

Sector Update: Financial Stocks Edge Higher Pre-Bell Thursday

Financial stocks were edging higher pre-bell Thursday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was down 0.3% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.1% lower.HSBC Holdings (HSBC) said Pam Kaur plans to step down as chief financial officer and executive director next year. Shares of HSBC Holdings were down more than 1% premarket.UBS (UBS) plans to cease its fund sales unit in China at the end of September, the company told Reuters in a statement. UBS stock was down more than 1% pre-bell.Mastercard (MA) has launched Mastercard Wallet Pay, a portfolio of payment tools meant to improve interoperability for digital wallets in contactless, QR code, and online payments. Mastercard shares were 0.4% higher premarket.

$FAS$FAZ$HSBC$MA$UBS$XLF
Asia Markets

Update: US Equity Futures Lower Pre-Bell Thursday as Traders Assess Inflation Data Amid Higher Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders assessed the first of two key inflation reports this week and observed oil prices continuing to ascend, with Brent crude futures exceeding $105 per barrel.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.President Donald Trump said that he expects the war with Iran to end after the November US midterm elections, according to media reports. He told reporters Wednesday that Iran was trying to influence the elections.Traders digested the latest round of earnings, with Macy's (M) posting higher fiscal Q2 adjusted earnings and revenue.Oracle (ORCL) is expected to report its fiscal Q1 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.74 per share on revenue of $19.14 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $105.67 per barrel and US West Texas Intermediate crude 4.8% higher at $100.66 per barrel.The US Producer Price Index, a measure of wholesale inflation released at 8:30 am ET, rose 0.4% in August as expected in a survey compiled by Bloomberg, and following a 0.1% gain in July. The consumer price index follows on Friday.Initial jobless claims fell to 206,000 in the week ended Sept. 5 from 207,000 in the previous week, compared with expectations for a drop to 205,000.The existing home sales report, scheduled for release at 10 am ET, is expected to show a decrease of 1.7% for August after a 1.7% drop in the prior month.In other world markets, Japan's Nikkei closed 0.2% higher, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.4% lower. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.2% lower in Europe's early afternoon session.In equities, Macy's stock fell 4% after the company reported its fiscal Q2 financial results. HSBC (HSBC) shares dropped 1.9% after the company said that Pam Kaur plans to step down as chief financial officer and executive director next year. UBS (UBS) stock was down 1.8% after a Reuters report that the company plans to cease its fund sales unit in China at the end of September.On the winning side, Exxon Mobil (XOM) and ConocoPhillips (COP) shares were up 1.9% and 2.3%, respectively, as part of a broader upswing in energy-related stocks.

Dow JonesNasdaq CompositeS&P 500$COP$HSBC$M$ORCL$UBS$XOM
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 Stocks Higher Thursday Afternoon

Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 1.4%.The Philadelphia Housing Index was up 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1%.Bitcoin (BTC-USD) jumped 4.9% to $81,167, and the yield for 10-year US Treasuries fell 3.8 basis points to 4.756%.In economic news, Fed 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 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, Blackstone (BX) Private Credit Fund received an estimated $4.3 billion of repurchase requests in Q3, representing roughly 10% of shares outstanding, but will fulfill buyback requests representing just 5%, the fund said Thursday in a letter to investors. Blackstone shares were up 0.3%.Equity Bancshares (EQBK) has agreed to buy Lincoln Bancorp in a deal valued at $123.8 million, the companies said. Equity Bancshares rose 2.7%.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 1.1%.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 0.6%.

$BX$CG$EQBK$UBS
Wire

Update: Market Chatter: UBS Faces Fresh Questions from US Senate Over Credit Suisse Nazi-Linked Accounts

(Updates with UBS's response in the fifth paragraph.)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.US Senator Charles Grassley, R-Iowa, who chairs the committee, said in a July 17 letter that UBS's previous responses failed to address all of the panel's questions, according to the report. The letter included 62 questions for the bank, according to Bloomberg.UBS is preparing a response, the report said, citing a person familiar with the matter.Grassley plans to hold another hearing, although no date has been set, and is seeking to establish a historical archive of Credit Suisse records related to the Nazi-linked accounts.UBS declined to comment when contacted 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: $55.43, Change: $+0.53, Percent Change: +0.97%

$UBS
Sectors

Sector Update: Financial Stocks Fall Late Afternoon

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding about 0.6%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.6%.Bitcoin (BTC-USD) was increasing 1.8% to $79,059, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.758%.In corporate news, Aon (AON) has agreed to buy insurance brokerage USI Insurance Services from KKR (KKR) and other shareholders in an all-cash deal worth roughly $17 billion. Aon shares fell past 9%, and KKR rose 1.5%.Apollo Global Management-managed (APO) funds have agreed to sell cooling systems company Kelvion to SLB (SLB) for $3.4 billion in cash, with SLB assuming about $700 million of debt as well, the companies said Monday. Apollo shares added 1.4%.BlackRock (BLK) and Mitsubishi UFJ Financial Group (MUFG) are teaming up to develop a framework to finance deals in Japan with private credit, Bloomberg reported. BlackRock shares were down 1%, and Mitsubishi UFJ was shedding 0.6%.UBS (UBS) can meet 50% of its new capital requirements with debt, Bloomberg reported Monday, citing a recommendation from the upper house of the Swiss parliament's Economic Affairs and Taxation Committee. Shares were up 1.5%.

$AON$APO$BLK$KKR$MUFG$UBS
Sectors

Sector Update: Financial

Financial stocks were lower in late Monday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each shedding 0.6%.The Philadelphia Housing Index was falling 1.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.6%.Bitcoin (BTC-USD) was increasing 1.8% to $79,059, and the yield for 10-year US Treasuries rose 3.8 basis points to 4.758%.In corporate news, UBS (UBS) can meet 50% of its new capital requirements with debt, Bloomberg reported Monday, citing a recommendation from the upper house of the Swiss parliament's Economic Affairs and Taxation Committee. Specifically, the panel recommended that UBS be allowed to meet half of the new requirements with convertible AT1 debt rather than the highest-quality equity, according to the news outlet. UBS shares were up 1.7%.

$UBS
Wire

Market Chatter: Swiss Lawmakers Back UBS Using Debt for 50% of New Capital Requirement

UBS (UBS) can meet 50% of its new capital requirements with debt, Bloomberg reported Monday, citing a recommendation from the upper house of the Swiss parliament's Economic Affairs and Taxation Committee.Specifically, the panel recommended that UBS be allowed to meet half of the new requirements with convertible AT1 debt rather than the highest-quality equity, according to the news outlet.UBS 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: $54.99, Change: $+0.09, Percent Change: +0.16%

$UBS
Wire

Swiss Lawmakers Support Proposal Allowing UBS to Meet 50% of New Capital Requirement With Debt, Bloomberg Reports

Swiss Lawmakers Support Proposal Allowing UBS to Meet 50% of New Capital Requirement With Debt, Bloomberg Reports

$UBS
Sectors

Sector Update: Financial Stocks Advance Friday

Financial stocks rose Friday as the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each gained 0.4%.The Philadelphia Housing Index climbed 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 0.5%.Bitcoin (BTC-USD) fell 3.3% to $77,629, and the yield for 10-year US Treasuries rose 4.8 basis points to 4.72%.In economic news, Federal Reserve Chair Kevin Warsh said the central bank's primary focus should be on prices, given that the US is doing well on the employment front. Delivering his debut Jackson Hole speech as Fed chief, Warsh said inflation numbers were concerning. "The comparable measures from the consumer price index are also elevated, as are the core measures of both PCE and CPI inflation," Warsh said. "None of these measures are perfect, but they all tell a similar story: Inflation is running above our 2% target. So the Fed's predominant focus right now should be on prices."Separately, US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed. The main sentiment index fell 6.3% to 51.7 from July. The gauge for current economic conditions dropped to 51.9 from 54.8, while the index of consumer expectations slid 7% to 51.5.In corporate news, Klarna (KLAR) shares rose 1.2% after a $9.95 million share purchase by CEO Sebastian Siemiatkowski.PayPal (PYPL) shares fell 13% after Bloomberg reported that Advent and Stripe abandoned their $50 billion takeover bid.Affirm (AFRM) shares rose 0.4%, paring earlier gains a day after the company reported a surge in fiscal Q4 earnings and sales and issued an upbeat fiscal Q1 sales outlook.UBS (UBS) raised 2 billion yuan ($297.5 million) via its debut panda bond in China's onshore market, highlighting growing demand among international issuers for lower borrowing costs, Bloomberg reported. UBS shares rose 1%.

$AFRM$KLAR$PYPL$UBS
Sectors

Sector Update: Financial Stocks Advance Friday Afternoon

Financial stocks advanced in Friday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.4%.The Philadelphia Housing Index was decreasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.6%.Bitcoin (BTC-USD) was falling 3.1% to $77,812, and the yield for 10-year US Treasuries was rising 5.6 basis points to 4.728%.In economic news, Federal Reserve Chair Kevin Warsh said Friday that the central bank's primary focus should be on prices, given that the US is doing well on the employment front. Delivering his debut Jackson Hole speech as Fed chief, Warsh said inflation numbers were concerning. "The comparable measures from the consumer price index are also elevated, as are the core measures of both PCE and CPI inflation," Warsh said. "None of these measures are perfect, but they all tell a similar story: Inflation is running above our 2% target. So the Fed's predominant focus right now should be on prices."Separately, US consumer sentiment dropped in August amid concerns that inflation will continue to be high for the "foreseeable future," final results of a University of Michigan survey showed Friday. The main sentiment index fell 6.3% sequentially to 51.7 this month. The gauge for current economic conditions decreased to 51.9 from 54.8, while the index of consumer expectations slid 7% to 51.5, according to the survey.In corporate news, PayPal (PYPL) shares fell past 12% after Bloomberg reported Friday that Advent and Stripe have abandoned their $50 billion bid to buy the company.Affirm (AFRM) shares gained 4.7% after it reported late Thursday a surge in fiscal Q4 earnings and sales, and issued an upbeat fiscal Q1 sales outlook.UBS (UBS) raised 2 billion yuan ($297.5 million) via its debut panda bond in China's onshore market, highlighting growing demand among international issuers for lower borrowing costs, Bloomberg reported. UBS shares rose 0.9%.Iren (IREN) shares fell nearly 14% after the company reported late Thursday Q4 revenue of $137.2 million, down from $187 million a year ago.

$AFRM$IREN$PYPL$UBS
Sectors

Sector Update: Financial Stocks Softer Late Afternoon

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index shedding 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.7%.The Philadelphia Housing Index was falling 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.8%.Bitcoin (BTC-USD) was rising 2% to $80,007, and the yield for 10-year US Treasuries was one basis point higher at 4.67%.In economic news, the advance international trade in goods deficit widened to $118.81 billion in July from $101.41 billion in June, according to data released by the US Census Bureau. This was a wider gap than the $100.5 billion deficit expected in a survey compiled by Bloomberg.US initial jobless claims fell to 203,000 in the week ended Aug. 22 from an upwardly revised 207,000 in the previous week, in contrast with expectations for an increase to 208,000 in a survey of analysts compiled by Bloomberg.In corporate news, Bank of America (BAC), UBS (UBS), and UniCredit are working with private aviation firm Vista Global on a potential initial public offering in Europe that could raise over $1 billion, Bloomberg reported. Bank of America shares were down 1.5%, and UBS was shedding 0.3%.JPMorgan Chase (JPM), Bank of America, Goldman Sachs (GS) and Morgan Stanley (MS) are clashing over pending changes to the Federal Reserve's capital surcharge on global systemically important banks, or GSIB, Reuters reported. The Federal Reserve proposed changes to the surcharge in March, including revised policies on short-term wholesale funding, to make the levy more risk-sensitive, the report said. Sources said JPMorgan and Bank of America argued that the proposal would benefit rivals Morgan Stanley and Goldman Sachs, Reuters reported. JPMorgan shares were down 0.7%, Goldman shed 0.2%, and Morgan Stanley advanced 0.3%.Enbridge (ENB) has entered into 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 Thursday. Separately, KKR has agreed to settle for $250 million a US Department of Justice lawsuit accusing the firm of repeatedly violating federal pre-merger filing rules, the regulator said Wednesday. KKR shares rose 0.7%.Toronto-Dominion Bank (TD) shares climbed 1.6% after the company reported higher fiscal Q3 adjusted earnings and revenue.

$BAC$GS$JPM$KKR$MS$TD$UBS
Sectors

Sector Update: Financial

Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index shedding 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.7%.The Philadelphia Housing Index was falling 1.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.9%.Bitcoin (BTC-USD) was rising 1.4% to $80,127, and the yield for 10-year US Treasuries was slightly higher at 4.672%.In corporate news, Bank of America (BAC), UBS (UBS), and UniCredit are working with private aviation firm Vista Global on a potential initial public offering in Europe that could raise over $1 billion, Bloomberg reported. Bank of America shares were down 1.6%, and UBS was shedding 0.3%.

$BAC$UBS
Wire

Update: Market Chatter: Bank of America, UBS Working With Vista Global on Potential Europe IPO

(Updates with comment from Bank of America in the third paragraph.)Bank of America (BAC), UBS Group (UBS), and UniCredit are working with private aviation firm Vista Global on a potential initial public offering in Europe that could raise over $1 billion, Bloomberg reported Thursday, citing people with knowledge of the matter.An IPO could happen next year and UAE-based Vista Global, which operates the VistaJet and XO brands, could be valued at more than $10 billion in the listing, the report said.Bank of America declined to comment, while UBS, UniCredit and Vista Global 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: $61.39, Change: $-0.84, Percent Change: -1.35%

$BAC$UBS
Wire

Market Chatter: Bank of America, UBS Working With Vista Global on Potential Europe IPO

Bank of America (BAC), UBS Group (UBS), and UniCredit are working with private aviation firm Vista Global on a potential initial public offering in Europe that could raise over $1 billion, Bloomberg reported Thursday, citing people with knowledge of the matter.An IPO could happen next year and UAE-based Vista Global, which operates the VistaJet and XO brands, could be valued at more than $10 billion in the listing, the report said.Bank of America, UBS, UniCredit and Vista Global 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: $61.66, Change: $-0.57, Percent Change: -0.92%

$BAC$UBS

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