Sector Update: Financial Stocks Higher in Afternoon Trading

01:50 PM EDT, 07/10/2025 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index up 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead 0.6%.

The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.9%.

Bitcoin (BTC-USD) was increasing 4% to $113,546, and the yield for 10-year US Treasuries was up 2 basis points at 4.36%.

In economic news, US initial jobless claims fell to a level of 227,000 in the week ended July 5 from a downwardly revised 232,000 level in the previous week, compared with expectations for a rise to 235,000 in a Bloomberg survey.

In corporate news, American Express' (AXP) reaffirmation of full-year guidance and positive billing trends will likely be the driver of the company's shares in Q2, BofA Securities said in a note. American Express (AXP) shares climbed 2.2%.

JPMorgan Chase (JPM) is mulling changes to its benchmark emerging-market bond index to reduce the weightings of China and India, and broaden exposure to other countries, Bloomberg reported. JPMorgan (JPM) shares rose 1.5%.

Goldman Sachs (GS) is preparing to raise up to 250 million euros ($292 million) in debt to back the renovation of Spanish football club Real Betis Balompie's stadium, Bloomberg reported. Goldman shares added 1.6%.

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