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Sector Update: Financial Stocks Decline Friday Afternoon

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-- Financial stocks were lower Friday afternoon, with the NYSE Financial Index decreasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.5%.

The Philadelphia Housing Index rose 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.5%.

Bitcoin (BTC-USD) eased 0.1% at $79,953, and the yield for 10-year US Treasuries was down 2.6 basis points to about 4.37%.

In economic news, the April employment report showed nonfarm payrolls rose by 115,000, above the 65,000 jobs rise expected in a Bloomberg survey, while March payrolls were revised up to a 185,000 increase and February payrolls were revised down to a 156,000 decrease.

The University of Michigan's preliminary consumer sentiment index fell to 48.2 in May from 49.8 in April, lower than the expectations for a smaller decrease to 49.5 in a Bloomberg poll.

In corporate news, Block (XYZ) shares jumped past 9% after the company late Thursday reported higher adjusted earnings and revenue that also beat analysts' estimates.

Two Harbors Investment (TWO) shares rose 1.2% after the firm said it signed an amended merger agreement with CrossCountry Mortgage to increase the all-cash buyout offer to $12 per share from $11.30.

Goldman Sachs-backed (GS) Go is seeking a valuation of about 200 billion Japanese yen ($1.28 billion) for its initial public offering in Tokyo, Bloomberg reported. Goldman was up 0.6%.

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