Financial sector stocks, including JPMorgan Chase, saw gains, while Coinbase shares fell due to lawsuit.

From Nasdaq: 2024-04-05 13:38:12

Financial stocks saw gains in Friday afternoon trading, with the NYSE Financial Index up 0.6% and the Financial Select Sector SPDR Fund up 0.9%. The Philadelphia Housing Index also climbed 1.3% while the Real Estate Select Sector SPDR Fund was up 0.7%.

Bitcoin was down at $67,757 and the yield for 10-year US Treasuries rose to 4.37%. Nonfarm payrolls rose by 303,000 in March, exceeding the consensus of 214,000 according to the Bureau of Labor Statistics.

A US appeals court reopened a consumer lawsuit against Coinbase, alleging the exchange facilitated the sale of unregistered securities. Coinbase shares were down 1%. JPMorgan Chase has appointed new officials to lead its global banking division, with shares rising 0.9%.

Arch Capital’s shares surged over 3% after its unit Arch Insurance North America signed a master transaction agreement with Allianz Global Corporate & Specialty to acquire the US MidCorp and Entertainment insurance businesses for $450 million in cash.

Read more at Nasdaq: Financial Sector Update for 04/05/2024: COIN, JPM, ACGL