Financials Down Ahead of Fed Meeting -- Financials Roundup

Shares of banks and other financial institutions ticked down, giving back some recent gains ahead of the Federal Reserve meeting.

The SPDR Select Sector Financial exchange-traded fund, which tracks the financial industry group of the S&P 500, fell about 2% for the week, but is up by more than 30% for the year to date.

Consulting firm McKinsey said it agreed to accept responsibility for its role in helping Purdue Pharma turbocharge sales of its OxyContin opioid painkiller in a $650 million settlement and deferred-prosecution agreement with the U.S. Justice Department.

San Francisco-based lender Affirm entered into an agreement to sell up to $4 billion of its loans to Sixth Street, a private credit firm, over three years.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

12-13-24 1753ET