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Sector Update: Financial

BY MT Newswires | TREASURY | 06/13/25 01:32 PM EDT

01:32 PM EDT, 06/13/2025 (MT Newswires) -- Financial stocks were lower in Friday afternoon trading, with the NYSE Financial Index falling 1.3% and the Financial Select Sector SPDR Fund (XLF) dropping 1.6%.

The Philadelphia Housing Index was down 1.6%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.9%.

Bitcoin (BTC-USD) was declining 2.8% to $105,191, and the yield for 10-year US Treasuries was rising nearly 8 basis points to 4.43%.

In economic news, oil prices jumped Friday after Israel targeted Iran's nuclear facilities in a series of airstrikes, with ING Bank saying that an escalation could push prices above $80 a barrel.

The University of Michigan's preliminary consumer sentiment index rose to 60.5 in June from 52.2 in May, compared with expectations for a smaller rise to 53.6 in a Bloomberg survey.

In corporate news, Visa (V) and Mastercard (MA) shares were down 5% and 4.7%, respectively, after some companies were reported to be considering launching their own stablecoins in the US. Walmart (WMT), Amazon (AMZN), Expedia (EXPE), and several major airlines have been weighing plans to launch stablecoins, The Wall Street Journal reported.

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

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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