Financial stocks declined on Thursday, Bitcoin fell, Treasury yield dropped, mixed economic data

From Nasdaq: 2024-09-05 13:43:39

Financial stocks saw a decline on Thursday, with the NYSE Financial Index dropping by 0.9% and the Financial Select Sector SPDR Fund (XLF) decreasing by 1.4%. The Philadelphia Housing Index also shed 0.7%, while the Real Estate Select Sector SPDR Fund (XLRE) was down by 0.4%.

Bitcoin (BTC-USD) experienced a 2.8% drop, falling to $56,365, while the yield for 10-year US Treasuries decreased by 3.3 basis points to 3.735%. Private payrolls rose by 99,000 in August according to the ADP Institute’s employment report, lower than the expected increase of 145,000.

US initial jobless claims fell to 227,000 last week, below the estimates, and the Institute for Supply Management’s US services index rose to 51.5 in August. The US Federal Deposit Insurance Corp. is planning to propose regulations on monitoring accounts held by third-party fintechs.

PayPal now allows customers to add their debit cards to Apple Wallet and use Apple Pay, while Capital Bancorp announced all approvals for its merger with Integrated Financial. Powell Max saw a 1.5% rise in shares after pricing its IPO at $4 per share.



Read more at Nasdaq: Sector Update: Financial Stocks Fall Thursday Afternoon