Financial Sector Update for 01/20/2023: ALLY, STT, SLF, SLF.TO
Financial stocks were higher in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both rising around 0.9%.
The Philadelphia Housing Index was climbing 0.9% but the Real Estate Select Sector SPDR Fund (XLRE) was edging less than 0.1% higher.
Bitcoin was increasing 2.1% to $21,338, while the yield for 10-year US Treasuries was climbing 8.2 basis points to 3.479%.
In company news, Ally Financial (ALLY) rallied this afternoon, climbing almost 19%, after the bank holding company reported non-GAAP Q4 net income of $1.08 per share, down from $2.02 per share during the same quarter in 2021 but still beating the Capital IQ consensus call expecting a $1.00 per share adjusted profit.
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