Investing
US financial sector sees gains as housing indexes and Bitcoin rise
© Reuters.
The US financial sector experienced a broad uplift today, with key indexes and registering gains amidst a backdrop of declining US Treasury note yields. The NYSE Financial Index climbed by 0.6%, while the Financial Select Sector SPDR Fund (NYSEARCA:XLF) was up by half a percent. Housing sector indexes also saw an uptick, with the Philadelphia Housing Index rising by 0.2% and the Real Estate Select Sector SPDR Fund (NYSEARCA:XLRE) gaining 0.7%.
Bitcoin, the leading cryptocurrency, saw a modest increase to $37,593, marking a 0.5% rise against the declining yields on US Treasury notes, which reached down to 4.42%. In corporate news, shares of Pacific Premier Bancorp Inc (NASDAQ:) surged over three percent following an announcement about the company’s portfolio restructuring.
Conversely, Wells Fargo & Co (NYSE:WFC) experienced a slight stock dip due to upcoming union votes at two of its branches. Citigroup Inc (NYSE:NYSE:) also saw its stock edge down after making strategic moves that included cutting senior management roles and selling its Indonesian consumer operations to UOB Indonesia.
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