From Nasdaq: 2024-04-04 15:53:10

Financial stocks, including the NYSE Financial Index and the Financial Select Sector SPDR Fund, experienced declines in late afternoon trading, with the Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund also falling.

Bitcoin saw a 3.9% increase to $68,570, while 10-year US Treasury yields dropped 5 basis points to 4.31%. US nonfarm payrolls are projected to rise by 215,000 in March, with the unemployment rate expected to decline to 3.8%.

US initial jobless claims rose to 221,000 in the week ending March 30, hitting the highest level since January. The US international trade deficit expanded to $68.9 billion in February, indicating growth in imports outpaced exports for the third consecutive month.

Bank of America faced a downgrade from UBS, which cited little upside potential and potential earnings revisions due to upcoming Federal Reserve interest rate cuts. Morgan Stanley is overseeing the sale of around 4.8 billion euros of failed Greek bank loans.

Coinbase has become a registered restricted dealer by the Canadian Securities Administrators, marking it as the largest and first international crypto exchange registered in Canada. Meanwhile, Carlyle is contemplating selling StandardAero in a deal that could value the company at approximately $10 billion.

Read more at Nasdaq.: Financial Sector Update for 04/04/2024: BAC, MS, COIN, CG