Financial stocks were higher in Wednesday afternoon trading, with the NYSE Financial Index increasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.
The Philadelphia Housing Index was falling 1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.3%.
Bitcoin (BTC-USD) was increasing 0.8% to $74,320, and the yield for 10-year US Treasuries was adding 1.5 basis points to 4.998%.
In economic news, a potential US government shutdown and a further decline in oil prices are among the factors that could prevent the Federal Reserve from tightening monetary policy next month, Macquarie said Wednesday. Markets are pricing in an 87% probability that the central bank's Federal Open Market Committee will increase its benchmark lending rate by 25 basis points in December, with the remaining odds in favor of a larger 50-basis-point hike, according to the CME FedWatch tool.
In corporate news, Blackstone (BX) is expecting to raise at least $3 billion for a fund that will take stakes in other asset managers' real estate vehicles, Bloomberg reported. Blackstone shares were up 0.5%.
Goldman Sachs (GS), HSBC (HSBC) and Fortress Investment Group are among financial firms teaming up to provide $150 million in financing to United Saudi in one of Saudi Arabia's first major private credit deals since the US-Iran war began, Bloomberg reported. Goldman shares rose 2.4%, and HSBC added 0.4%.
International Money Express (IMXI) shares fell 2.6% after the firm said it has rejected Western Union's (WU) attempt to terminate its $500 million merger agreement and has asked the payment transfer company to take all necessary actions to complete the deal. Western Union shares were shedding 1.4%.
