Financial Sector Update for 05/30/2023: CWAN, JPM, SIEB, UBS
Financial stocks were lower in afternoon trading, with the NYSE Financial Index dropping 0.4% and the Financial Select Sector SPDR Fund (XLF) also off 0.4%.
The Philadelphia Housing Index was climbing 0.2% and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.3%.
Bitcoin (BTC-USD) was up 0.3% to $27,772, and the yield for 10-year US Treasuries was dropping 11 basis points to 3.7%.
In economic news, US Congress leaders hammered out a compromise to raise the debt ceiling over the weekend, but the deal now faces a major hurdle in the House Rules Committee, where two Republican members are expected to oppose the bill.