From Nasdaq: 2024-06-27 13:57:56

Financial stocks traded mixed on Thursday, with the NYSE Financial Index slightly up and the Financial Select Sector SPDR Fund (XLF) down 0.2%. The Philadelphia Housing Index rose by 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was up by 0.3%.

Bitcoin increased by 1.5% to $61,699, while the yield for 10-year US Treasuries dropped 4 basis points to 4.28%. New orders for US durable goods in May rose by 0.1%, surpassing expectations for a 0.5% decrease.

US gross domestic product for Q1 was revised higher to a 1.4% increase from the previous estimate of 1.3%. In regulatory news, the US Supreme Court ruled that a defendant facing fraud charges has the right to be tried by a jury before a neutral adjudicator, not the SEC’s administrative law judges.

Jefferies Financial (JEF) shares surged by 6.3% after reporting Q2 diluted earnings of $0.64 per share, exceeding analyst expectations. Coinbase (COIN) filed lawsuits against the SEC and FDIC for not complying with FOIA requests, leading to a 4.7% increase in its shares.

JPMorgan Chase (JPM) challenged the US Federal Reserve’s 2024 stress test results projections, stating that stress losses may be higher than estimated. The bank’s analysis suggests slightly elevated stress losses compared to the Fed’s estimate, causing its shares to rise by 0.8%.

Read more at Nasdaq Market News: Sector Update: Financial Stocks Mixed Thursday Afternoon