Sector Update: Financial Stocks Mixed Friday Afternoon

MT Newswires Live
May 02

Financial stocks were mixed in Friday afternoon trading, with the NYSE Financial Index down 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.3%.

The Philadelphia Housing Index was shedding 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.2%

Bitcoin (BTC-USD) advanced 2.5% to $78,207, and the yield for 10-year US Treasuries was decreasing 1.6 basis points to 4.37%.

In economic news, the S&P Global US manufacturing index for April was revised slightly upwards to 54.5 from the flash reading of 54.0, compared with expectations for a no revision in a survey compiled by Bloomberg.

The Institute for Supply Management's US manufacturing index was unchanged in April from the 52.7 reading in March, below the expectations for a 53.2 reading in a survey compiled by Bloomberg.

In corporate news, UWM (UWMC) is urging Two Harbors Investment's (TWO) shareholders to press the board to accept its sweetened $12-per-share acquisition bid, up from the prior $11.30 offer, according to an open letter Thursday. Two Harbors shares jumped past 7% in Friday trading, and UWM rose 2.1%.

Cboe Global Markets (CBOE) shares were up more than 7% after the company posted higher Q1 adjusted earnings and revenue.

Aon (AON) reported Q1 adjusted earnings Friday of $6.48 per diluted share, up from $5.67 a year earlier. Analysts polled by FactSet expected $6.37. Aon shares rose 1%.

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