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Sector Update: Financial Stocks Rise Late Afternoon

BY MT Newswires | TREASURY | 07/09/25 03:49 PM EDT

03:49 PM EDT, 07/09/2025 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index gained 0.2% and the Financial Select Sector SPDR Fund (XLF) climbing 0.3%.

The Philadelphia Housing Index rose 2.7%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.2%.

Bitcoin (BTC-USD) increased 0.9% to $109,915, and the yield for 10-year US Treasuries fell 7.3 basis points to 4.342%.

In economic news, Federal Reserve officials are concerned that the Trump administration's international trade policies may fuel inflation and complicate the path to interest rate cuts, according to minutes from the June 17-18 Federal Open Market Committee (FOMC) meeting released Wednesday.

Mortgage applications in the US jumped last week as the 30-year fixed rate on conforming loans fell to a three-month low, the Mortgage Bankers Association said. The market composite index, which measures loan application volume, increased 9.4% on a seasonally adjusted basis in the week ended Friday following a 2.7% gain in the previous week.

In corporate news, Mastercard's (MA) Vocalink unit was fined 11.9 million pounds ($16.3 million) by the Bank of England for failing to meet risk and governance requirements. Mastercard (MA) shares rose 0.4%.

KKR's (KKR) capital markets unit is among a group of lenders that is arranging 1.75 billion 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 gained 0.0%.

B. Riley Financial (RILY) shares jumped 9.9% 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 1.2%.

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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