Sector Update: Financial Stocks Stalled Monday, REITs Rise

Last Updated: Monday, October 18, 2021 1:39 PM | MT Newswires

Financial stocks were little changed Monday afternoon, with the NYSE Financial Index rising less than 0.1% while the Financial Select Sector SPDR ETF (XLF) slipped almost 0.1%.

The Philadelphia Housing Sector Index gained 1.3% and the Real Estate Select Sector SPDR ETF (XLRE) was up 0.5%.

SoFi (SOFI) rose 7% after privately held Pagaya Technologies announced a new partnership with the loans marketer expected to expand Sofi members' access to financial products by using machine learning to reduce lending risks. The companies said the deal marks the largest deployment of Pagaya's technology in finance.

Interactive Brokers Group (IBKR) climbed 1.3% after saying it enabled cryptocurrency trading on its platform for registered investment advisors on behalf of US clients.

Upstart Holdings (UPST) slid 3.3% after BofA Securities downgraded the lender's stock to underperform from buy while raising its price target by $100 to $300.

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