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Sector Update: Financial

BY MT Newswires | TREASURY | 07/14/25 01:23 PM EDT

01:23 PM EDT, 07/14/2025 (MT Newswires) -- Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead 0.7%.

The Philadelphia Housing Index was down 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.4%.

Bitcoin (BTC-USD) was increasing 1.2% to $120,419, and the yield for 10-year US Treasuries was slightly higher at 4.43%.

In economic news, the EU warned of necessary "proportionate countermeasures" if efforts to reach an agreement with the White House fall through by Aug. 1. The statement was made on the same day that President Donald Trump announced a 30% tariff on EU goods, beginning Aug. 1. Mexico is also facing 30% punitive import duties from the US, while Canada has been told its exports to the US could expect a 35% levy.

In regulatory news, Federal Reserve Chair Jerome Powell has asked the central bank's inspector general to review its $2.5 billion headquarters renovation project, Axios reported Monday.

In corporate news, Veritex (VBTX) shares jumped past 19% after Huntington Bancshares (HBAN) agreed to buy the Dallas-based midsized community bank in an all-stock deal worth $1.9 billion. Huntington shares declined 2.2%.

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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