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Sector Update: Financial

BY MT Newswires | TREASURY | 06/27/25 01:33 PM EDT

01:33 PM EDT, 06/27/2025 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund (XLF) up 0.6%.

The Philadelphia Housing Index was climbing 1.2%, and the Real Estate Select Sector SPDR Fund (XLRE) added 1%.

Bitcoin (BTC-USD) was shedding 0.1% to $107,295, and the yield for 10-year US Treasuries was 1.1 basis points lower at 4.24%.

In economic news, Trump told reporters Thursday that the US and China have formally signed a trade agreement, without giving additional details, according to media reports. A spokesperson for the Chinese Ministry of Commerce confirmed Friday that the two countries have reached a consensus over a trade framework to allow rare earth exports and easing of certain restrictive measures.

The personal consumption expenditures, or PCE, price index rose by 0.1% in May, as expected in a Bloomberg-compiled poll, lifting the year-over-year rate to 2.3% from 2.2%, the Bureau of Economic Analysis said Friday.

In corporate news, HSBC (HSBC) shares were up 0.7% after the bank said its HSBC Continental Europe unit has agreed to sell its custody business in Germany to BNP Paribas.

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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