From Nasdaq:

Financial stocks saw a late afternoon decline on Friday, with little change in the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) losing 0.3%. The Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund (XLRE) both dropped 1%.

Bitcoin (BTC-USD) eased 0.2% to $51,817, while the 10-year US Treasuries yield increased by 5.5 basis points to 4.295%. The US producer price index rose 0.3% last month after a 0.1% decrease in December, per the Bureau of Labor Statistics.

The University of Michigan’s preliminary consumer sentiment index rose to 79.6 in February from 79 in January. Expectations were for 80 in a survey compiled by Bloomberg. Kinsale Capital (KNSL) shares rose 16% after reporting better-than-expected Q4 results.

Block’s (SQ) Cash App is under federal scrutiny after whistleblowers alleged insufficient customer identity verification, potentially leading to illegal activities. Block shares fell 5.2%. Meanwhile, Coinbase (COIN) shares jumped 8.6% following Q4 results that beat analyst estimates.

Trupanion (TRUP) shares plunged 34% following the company’s announcement of expected material weaknesses in internal controls over financial reporting.



Read more: Financial Sector Update for 02/16/2024: KNSL, COIN, TRUP, SQ