Sector Update: Financial Stocks Softer Thursday Afternoon

01:59 PM EDT, 06/12/2025 (MT Newswires) -- Financial stocks eased in Thursday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) each down about 0.2%.

The Philadelphia Housing Index was adding 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.5%.

Bitcoin (BTC-USD) was shedding 0.4% to $108,269, and the yield for 10-year US Treasuries was dropping 6.6 basis points to 4.36%.

In economic news, the US Producer Price Index rose by 0.1% in May, following a 0.2% decrease in April and below the 0.2% gain expected in a survey compiled by Bloomberg.

US initial jobless claims were flat at a level of 248,000 in the week ended June 7 after an upward revision to the previous week's level, above expectations for 242,000 in survey of analysts compiled by Bloomberg.

In corporate news, Bank of America (BAC) expects Q2 investment banking fees to decrease roughly 25%, Bloomberg reported, citing Chief Executive Brian Moynihan. The bank's shares were down 0.4%.

Bank of New York Mellon (BK) shares eased 0.1% after it said Chief Executive Robin Vince has been elected to the additional position of chairman of the board, starting Sept. 1.

NatWest (NWG) has started relocating its wealth management operations from Switzerland to the UK, aiming to cut costs, Bloomberg reported, citing Chief Executive Paul Thwaite at an investor conference. NatWest (NWG) shares rose 1.4%.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.