Sector Update: Financial

Friday, February 19, 2021 3:40 PM | MT Newswires

Financial stocks maintained their Friday advance in afternoon trading, with the NYSE Financial Index rising 0.9% while the SPDR Financial Select Sector ETF was ahead 1.5%. The Philadelphia Housing Index also was climbing 2.3% after a larger-than-expected 0.6% increase in sales of previously owned homes during January. The median price of all homes sold last month also rose 14% year-over-year. In company news, Redfin (RDFN) climbed almost 11% on Friday after the real estate brokerage announced its purchase of RentPath, the privately held owner of the Rent.com, Apartment.com and Rentals.com websites, for $608 million in cash.

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