Financial stocks rise, Bitcoin slightly down, Truist Financial surges, Berkshire Hathaway sells Bank of America shares

From Nasdaq

July 22, 2024 1:55 pm:

Financial stocks were on the rise on Monday, with the NYSE Financial Index increasing by 0.7% and the Philadelphia Housing Index adding 0.8%.

Bitcoin saw a slight decrease of 0.1% to $67,364, while the yield for 10-year US Treasuries rose to 4.26%. The Chicago Federal Reserve Bank’s National Activity Index fell to 0.05 in June.

Truist Financial shares surged 3.5% after reporting Q2 earnings that exceeded analyst estimates, while Berkshire Hathaway sold 33.9 million Bank of America shares, generating $1.48 billion.

Coinbase’s long-term prospects are undervalued, according to Oppenheimer, with the company’s shares rising 3%. Oppenheimer has an outperform rating and a $282 price target on Coinbase.

Read more at Nasdaq: Sector Update: Financial Stocks Rise Monday Afternoon