Sector Update: Financial Stocks Rise Thursday Afternoon

01:27 PM EDT, 07/03/2025 (MT Newswires) -- Financial stocks advanced in Thursday afternoon trading, with the NYSE Financial Index up 1% while the Financial Select Sector SPDR Fund (XLF) rose 1.1%.

The Philadelphia Housing Index fell 1.4%, while the Real Estate Select Sector SPDR Fund (XLRE) added 0.1%.

Bitcoin (BTC-USD) was adding 0.1% to $109,653, and the yield for 10-year US Treasuries rose 5 basis points to 4.34%.

In economic news, the June employment report showed nonfarm payrolls rose by 147,000, above the 106,000-job increase expected in a survey compiled by Bloomberg.

The Institute for Supply Management's US services index rose to 50.8 in June from 49.9 in May, compared with expectations for a smaller increase to 50.6 in a Bloomberg survey.

New orders for US factory goods rebounded by 8.2% in May, as expected in a survey compiled by Bloomberg.

In corporate news, Carlyle (CG) is in talks to transfer the ownership of Dainese to private lenders, HPS Investment Partners and Arcmont Asset Management, Bloomberg reported. Carlyle shares rose 2.3%.

KKR (KKR) has become Morgan Stanley's top pick instead of CME Group (CME) amid improving macroeconomic conditions and normalizing volatility, Morgan Stanley said in a note e-mailed Thursday. KKR shares popped 3% and CME rose 0.3%.

JPMorgan Chase (JPM) is overhauling its private banking operations to better meet the growing demand from ultra-wealthy clients for global investment strategies, The Wall Street Journal reported. JPMorgan (JPM) shares climbed 1.9%.

BlackRock (BLK) is in talks to sell its stake in the leasing rights to Saudi Aramco's network of natural gas pipelines back to the oil giant, Bloomberg reported. BlackRock (BLK) shares added 1.1%.

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