Sector Update: Financial Stocks Higher Thursday Afternoon

01:56 PM EST, 12/04/2025 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index was declining 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was increasing 0.1%.

Bitcoin (BTC-USD) was shedding 1.1% to $92,088, and the yield for 10-year US Treasuries was rising 4.6 basis points to 4.10%.

In economic news, initial jobless claims fell to 191,000 in the week ended Nov. 29, the lowest since September 2022, from an upwardly revised 218,000 in the previous week. The expectations were for 220,000 in a Bloomberg-compiled survey.

Outplacement firm Challenger, Gray & Christmas said Thursday that companies planned to cut 71,321 jobs in November, down from 153,074 in October but above the 57,727 figure a year ago.

In corporate news, Brookfield Asset Management (BAM) , together with a sovereign investor, has provided up to 1 billion euros ($1.17 billion) in mezzanine financing to Singapore-based DayOne Data Centers, the companies said Thursday. The facility has a base capacity of 500 million euros, expandable up to 1 billion euros. Separately, Brookfield, ByteDance, and other investors are pursuing data center projects in Brazil with renewable power company Voltalia, Bloomberg reported. Brookfield shares were up 0.3%.

Hoyne Bancorp (HYNE) shares surged 35% in their Nasdaq debut on Thursday, after the company sold about 7.9 million shares at $10 per share for gross proceeds of about $79.4 million.

Klarna (KLAR) , the "buy now, pay later" firm, said Thursday it has expanded its membership program with the launch of Premium and Max plans in the US. Klarna (KLAR) shares added 1.2%.

UP Fintech (TIGR) stock popped 4% after it reported higher Q3 non-GAAP net income and revenue.

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