Sector Update: Financial Stocks Sliding Lower Tuesday Afternoon

Last Updated: Tuesday, December 6, 2022 1:32 PM | MT Newswires

Financial stocks were trading lower on Tuesday, with the NYSE Financial Index sliding 1.2% while the SPDR Financial Select Sector ETF (XLF) was off 1.4%.

The Philadelphia Housing Index also was dropping 1.7% and the SPDR Real Estate Select Sector ETF (XLRE) was slipping 0.8%.

Bitcoin was declining 0.6% to $16,958, while the yield for 10-year US Treasuries was falling 2.9 basis points to 3.57%.

In company news, Silvergate Capital (SI) slid 6% on Tuesday after overnight posting a letter to CEO Alan Lane from three US senators on the Senate Banking Committee seeking information about the bank holding company's relationship with FTX Trading and Alameda Research, including whether Silvergate may have facilitated the transfer of customer funds from FTX to Alameda.

CURO Group Holdings (CURO) declined 1.1% after Tuesday saying Ismail Dawood will join the consumer lender as its new chief financial officer on Jan. 3, succeeding Roger Dean, who recently retired. Dawood previously was CFO at Paysafe (PSFE).

Intercontinental Exchange (ICE) was drifting 1.3% lower, giving back a small morning advance, after saying its New York Stock Exchange subsidiary would be collaborating with the Tel Aviv Stock Exchange to identify suitable candidates for dual listings and other projects.

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