Sector Update: Financial Stocks Decline Late Afternoon

03:43 PM EDT, 06/11/2025 (MT Newswires) -- Financial stocks fell in late Wednesday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) shedding 0.2%.

The Philadelphia Housing Index fell 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) dropped 0.5%.

Bitcoin (BTC-USD) declined 1.2% to $108,891, and the yield for 10-year US Treasuries dropped 6.4 basis points to 4.41%.

In economic news, US and Chinese officials agreed on a framework for implementing the pact the two countries reached in Switzerland last month, CNBC reported after two days of talks in London between teams led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.

The US seasonally adjusted consumer price index rose by 0.1% in May, below expectations for a 0.2% increase in a survey compiled by Bloomberg.

In corporate news, Apollo Global Management (APO) informed prospective investment banking candidates that it will not interview or extend offers to the class of 2027 this year, a decision that follows growing criticism from banks over the increasingly early recruitment of young talent, Bloomberg reported. Apollo shares were rising 1.6%.

Robinhood (HOOD) shares climbed 2.8% after funded customers reached 25.9 million at the end of May, up 5,000 from April.

Ategrity Specialty Insurance (ASIC) shares jumped 41% in their Nasdaq debut after the initial public offering of 6.7 million shares priced at $17 apiece.

KKR-owned (KKR) auto parts supplier Marelli filed for Chapter 11 bankruptcy protection in Delaware to restructure its long-term debt. KKR shares added 0.9%.

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