Sector Update: Financial Stocks Rise Wednesday Afternoon

02:10 PM EDT, 07/09/2025 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund (XLF) adding 0.3%.

The Philadelphia Housing Index was climbing 2.4%, while the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.1%.

Bitcoin (BTC-USD) was increasing 0.1% to $109,162, and the yield for 10-year US Treasuries was dropping 6.3 basis points to 4.35%.

In economic news, mortgage applications in the US jumped last week as the 30-year fixed rate on conforming loans hit a three-month low, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, increased 9.4% on a seasonally-adjusted basis for the week ended July 4, following a 2.7% rise the week prior.

In corporate news, KKR's (KKR) KKR Capital Markets is among a group of lenders that is arranging 1.75 billion British pounds ($2.38 billion) in debt financing to back the private equity firm's planned acquisition of UK-based precision testing equipment and software maker Spectris, Bloomberg reported. KKR shares were rising 1.1%.

B. Riley Financial (RILY) shares added 1.3% after the company said it has amended its senior secured credit agreement with funds managed by Oaktree Capital Management to add an incremental $100 million.

Blackstone (BX) is among a handful of companies in talks to buy Toronto-based H&R Real Estate Investment Trust's residential and industrial properties, The Globe And Mail reported. Blackstone shares rose 1.4%.

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