Financial Sector Update for 05/30/2023: GS, IEP, EFC, AAIC, CWAN, JPM
Financial stocks were lower in late afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both down 0.1%, paring earlier losses.
The Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund (XLRE) both climbed 0.5%.
Bitcoin (BTC-USD) was up 0.1% to $27,768, 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.