Financial Sector Update for 01/24/2023: BFH, BLK, STNE, ONB, SFBS

Financial stocks were edging higher in late Tuesday trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) still ahead less than 0.1%.

The Philadelphia Housing Index was climbing 0.7% and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.3%.

Bitcoin was rising 0.5% to $22,966, while the yield for 10-year US Treasuries was slipping 5.6 basis points to 3.469%.

In company news, Bread Financial (BFH) rose 0.8% after a regulatory filing showed BlackRock (BLK) has increased its stake in the consumer lender by around 293,012 shares to more than 4.85 million shares, or 9.7% of its outstanding stock, compared with the nearly 4.56 million Blackrock owned in April 2022, according to Bread's annual proxy statement.