Sector Update: Financial Stocks Advance Monday Afternoon

01:50 PM EDT, 08/19/2024 (MT Newswires) -- Financial stocks were rising in Monday afternoon trading with the NYSE Financial Index adding 0.6% and the Financial Select Sector SPDR Fund (XLF) ahead 0.4%.

The Philadelphia Housing Index climbed 1.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.5%.

Bitcoin (BTC-USD) shed 0.9% to $59,060, and the yield for 10-year US Treasuries fell 2.8 basis points to 3.86%.

In economic news, the Conference Board's measure of leading indicators declined 0.6% in July, below expectations for a 0.4% decrease in a survey compiled by Bloomberg.

Online retail sales rose 1.3% in Q2, slower than a 1.6% gain in the previous quarter, the US Census Bureau said.

In corporate news, billionaire investor Carl Icahn and Icahn Enterprises (IEP) agreed to a combined $2 million settlement with US regulators to resolve charges of failing to disclose stock pledges. Icahn Enterprises shares were up 0.3%.

Skyward Specialty Insurance (SKWD) shares gained nearly 1% after it said Monday it launched a joint aviation program with aviation risk underwriter Acceleration Aviation.

AlphaVest Acquisition (ATMV) shares added 0.2% after it said Monday it has agreed to merge with tech company AMC Corp.