Sector Update: Financial Stocks Decline Tuesday Afternoon

01:46 PM EDT, 06/17/2025 (MT Newswires) -- Financial stocks were lower in Tuesday afternoon trading, with the NYSE Financial Index down 0.6% and the Financial Select Sector SPDR Fund (XLF) shedding 0.5%.

The Philadelphia Housing Index was falling 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.3%.

Bitcoin (BTC-USD) was declining 3.9% to $104,055, and the yield for 10-year US Treasuries was dropping 5.3 basis points to 4.40%.

In economic news, US retail sales fell 0.9% in May, versus the 0.6% decline expected in a Bloomberg survey and April's 0.1% retreat. Excluding a 3.5% drop in motor vehicle sales, retail sales were down 0.3% compared with an expected 0.2% gain. That followed a flat reading in April. Removing motor vehicles and a 2% slump in gasoline station sales, retail sales fell 0.1% in May after a 0.1% gain in April.

In corporate news, JPMorgan Chase (JPM) said Tuesday it's raising the annual fee on its Sapphire Reserve credit card to $795 from $550. JPMorgan (JPM) shares shed 0.2%.

Goldman Sachs (GS) is open to underwriting new deals for special-purpose acquisition companies after halting activity in 2022, Bloomberg reported. Goldman shares were easing 0.3%.

Robinhood (HOOD) is launching new features on its mobile application, including a simulated returns preview for options trades and advanced charting capabilities, The Wall Street Journal reported. Robinhood shares were falling 4%.

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