Financial Sector Update for 01/19/2023: NTRS,ALL,CMA

Financial stocks were mostly lower in Thursday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both sinking about 1%.

The Philadelphia Housing Index was dropping 2% and the Real Estate Select Sector SPDR Fund (XLRE) was slipping 0.1%. Data Thursday showed US housing starts fell 1.4% during December to an annualized rate of 1.382 million compared with market expectations for a 1.358 million rate. Contractors also pulled 1.6% fewer building permits in December for a 1.330 million rate, compared with forecasts looking for a 1.365 million rate.