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Sector Update: Financial

BY MT Newswires | TREASURY | 07/11/25 01:21 PM EDT

01:21 PM EDT, 07/11/2025 (MT Newswires) -- Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index shedding 0.9% and the Financial Select Sector SPDR Fund (XLF) down 1%.

The Philadelphia Housing Index was falling 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was easing 0.3%.

Bitcoin (BTC-USD) was increasing 3.7% to $117,510, and the yield for 10-year US Treasuries climbed 6.9 basis points to 4.42%.

In economic news, President Donald Trump announced tariffs on Canada and threatened to impose blanket duties on most other trading partners. In a letter sent to Canada on Thursday, Trump said the US will impose 35% tariffs on Canadian imports, effective Aug. 1, separate from all sectoral tariffs. The rate will go up if Canada retaliates, the letter said. In an interview with NBC News on Thursday, Trump said he plans to impose blanket tariffs of 15% or 20% on most trade partners.

In corporate news, Goldman Sachs (GS) and BBVA (BBVA) are among banks offering 500 million euros ($584.63 million) in debt to facilitate Warburg Pincus' acquisition of a majority stake in Uvex, Bloomberg reported. Goldman shares were down 0.8% and BBVA fell 3.1%.

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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