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Sector Update: Financial

BY MT Newswires | TREASURY | 06/30/25 01:39 PM EDT

01:39 PM EDT, 06/30/2025 (MT Newswires) -- Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead 0.6%.

The Philadelphia Housing Index was up 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.3%.

Bitcoin (BTC-USD) was up 0.3% at $107,725, and the yield for 10-year US Treasuries was dropping 4 basis points to 4.24%.

In economic news, Canada rescinded its Digital Services Tax to advance trade talks with the US. "Canada's preference has always been a multilateral agreement related to digital services taxation," Canada's Department of Finance said Sunday.

The Dallas Fed's monthly manufacturing index improved to minus 12.7 in June from minus 15.3 in May, compared with expectations for minus 12.0 in a survey compiled by Bloomberg.

The Institute for Supply Management's Chicago purchasing managers' index fell to 40.4 in June from 40.5 in May, compared with an expected increase to 42.9 in a Bloomberg survey.

In corporate news, Robinhood (HOOD) shares jumped 11% after the firm said it has launched US stock and exchange-traded fund tokens in the EU.

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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