Sectors
Sector Update: Financial Stocks Retreat Late Afternoon
Financial stocks were declining in late Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) off by 0.3%.The Philadelphia Housing Index was adding 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.6%.Bitcoin (BTC-USD) was decreasing 0.2% to $75,717, and the yield for 10-year US Treasuries rose 4.2 basis points to 4.29%.In economic news, US retail sales rose 1.7% in March, above the 1.4% increase expected in a Bloomberg-compiled survey and following the previous month's revised 0.7% gain. Removing both motor vehicles and a 15.5% surge in gasoline station sales, retail sales were up 0.6% in March, the same as in February.US pending home sales increased more than expected in March despite higher mortgage rates, data from the National Association of Realtors showed.In corporate news, JPMorgan Chase (JPM) is working to secure approval from securities regulators in China to launch actively managed exchange-traded funds in the country for the first time, Bloomberg reported. JPMorgan shares were down 1.3%.Coinbase (COIN) and Gemini Titan have been sued by New York Attorney General Letitia James for allegedly violating the state laws against illegal gambling with their prediction markets, Reuters reported, citing complaints filed in a state court in Manhattan. Coinbase shares fell past 7%.Washington Trust Bancorp (WASH) reported late Monday a year-over-year decline in Q1 revenue that also trailed analysts' estimates. Its shares tumbled nearly 17%.Barclays (BCS) is facing scrutiny from UK regulators over its use of significant risk transfer, or SRT, transactions, Bloomberg reported. The review, known as a Section 166 probe, has been requested by the Prudential Regulation Authority, the supervisory arm of the Bank of England, the report said. Barclays shares fell 2.9%.
$BCS$COIN$JPM$WASH