Sector Update: Financial Stocks Decline Late Afternoon

03:42 PM EDT, 07/15/2025 (MT Newswires) -- Financial stocks dropped in late Tuesday afternoon trading with the NYSE Financial falling 1.2% and the Financial Select Sector SPDR Fund (XLF) declining 1.4%.

The Philadelphia Housing Index shed 2.9%, and the Real Estate Select Sector SPDR Fund (XLRE) lost 1.1%.

Bitcoin (BTC-USD) dropped 2.5% to $116,943, while the yield for 10-year US Treasuries rose 6 basis points to 4.49%.

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

In corporate news, Blackstone (BX) said funds managed by Blackstone Infrastructure and Blackstone Real Estate plan to invest more than $25 billion to back the development of Pennsylvania's digital and energy infrastructure, targeting to build up the state as a hub for AI. Blackstone shares fell 1.8%.

Wells Fargo (WFC) lowered its full-year net interest income outlook despite reporting Q2 results above market expectations. The stock slumped 5.6%.

JPMorgan Chase (JPM) reported better-than-expected Q2 results as investment banking gained momentum amid improving market sentiment. JPMorgan (JPM) shares dropped 0.6%.

Citigroup's (C) Q2 results surpassed Wall Street's expectations, buoyed by trading gains and double-digit revenue growth in investment banking. Citi shares gained 4.4%.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.