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Sector Update: Financial Stocks Retreat in Afternoon Trading

BY MT Newswires | TREASURY | 07/15/25 01:42 PM EDT

01:42 PM EDT, 07/15/2025 (MT Newswires) -- Financial stocks were decreasing in Tuesday afternoon trading, with the NYSE Financial down 1.2% and the Financial Select Sector SPDR Fund (XLF) falling 1.4%.

The Philadelphia Housing Index was retreating 2.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 1.5%.

Bitcoin (BTC-USD) was declining 2.1% to $117,350, and the yield for 10-year US Treasuries was up 5 basis points to 4.48%.

In economic news, the consumer price index rose 0.3% month-over-month in June, the Bureau of Labor Statistics reported. That's in line with a Bloomberg survey and a jump from a 0.1% gain in May. Annually, inflation accelerated to 2.7% from 2.4%, faster than the 2.6% consensus.

In corporate news, Wells Fargo (WFC) lowered its full-year net interest income outlook despite reporting Q2 results above market expectations. Its shares dropped 6.1%.

JPMorgan Chase (JPM) reported better-than-expected Q2 results as investment banking activity gained momentum amid improving market sentiment. JPMorgan (JPM) shares were down 0.7%.

Citigroup's (C) Q2 results surpassed Wall Street's expectations, buoyed by trading gains and double-digit revenue growth in investment banking. Citi shares rose 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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