Sector Update: Financial Stocks Rise Late Afternoon

03:48 PM EDT, 06/30/2025 (MT Newswires) -- Financial stocks advanced in late Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund (XLF) gaining 0.7%.

The Philadelphia Housing Index edged up 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 0.4%.

Bitcoin (BTC-USD) shed 0.8% to $107,520, and the yield for 10-year US Treasuries dropped 5.3 basis points to 4.23%.

In economic news, Canada rescinded its Digital Services Tax to advance trade talks with the US.

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, Morgan Stanley's (MS) Saudi Arabia unit received approval to conduct market-making activities, starting Tuesday. Morgan Stanley (MS) shares shed 0.3%.

Forestar (FOR) said Monday it has begun dual listing its common stock on the newly launched NYSE Texas, while retaining its primary listing on the New York Stock Exchange. Forestar (FOR) shares were down 0.7%.

BBVA (BBVA) announced Monday it will move forward with its acquisition of Banco Sabadell despite the Spanish government's recent decision to delay the merger for several years. BBVA shares added 0.5%.

Robinhood (HOOD) shares jumped nearly 12% after the firm said it launched US stock and exchange-traded fund tokens in the EU.

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