Sector Update: Financial Stocks Higher Late Afternoon

03:42 PM EDT, 03/24/2025 (MT Newswires) -- Financial stocks gained in late Monday afternoon trading with the NYSE Financial Index rising 1.6% and the Financial Select Sector SPDR Fund (XLF) ahead 1.5%.

The Philadelphia Housing Index climbed 2%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 1.4%.

Bitcoin (BTC-USD) added 2.8% to $88,433, and the yield for 10-year US Treasuries rose 8 basis points to 4.33%.

In sector news, the Treasury Department is drafting recommendations to streamline bank regulators such as the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp., Semafor reported.

In economic news, the March flash reading of manufacturing conditions from S&P Global fell to a three-month low reading of 49.8 from 52.7 in February, compared with a smaller expected decrease to 51.8 in a survey compiled by Bloomberg.

In corporate news, Robinhood (HOOD) is under investigation by Massachusetts' top securities regulator for its decision to launch a prediction-markets hub allowing users to bet on a number of events, including the NCAA college basketball tournaments, Reuters reported. Robinhood shares were rising past 8%.

Morgan Stanley ( MS ) is leading the financing of Clearlake Capital Group's multi-billion dollar deal to take Dun & Bradstreet ( DNB ) private, Bloomberg reported. Morgan Stanley ( MS ) shares popped 3.7% and Dun & Bradstreet ( DNB ) was adding 3%.

Air Lease ( AL ) shares jumped 5.2%. The company received cash insurance settlement proceeds totaling $328.5 million under settlement agreements with some insurers in connection with its aircraft detained in Russia.

Delinea, a cybersecurity company controlled by TPG (TPG), is considering an initial public offering, Bloomberg reported. TPG shares rose 4.1%.

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