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Sector Update: Financial

BY MT Newswires | TREASURY | 08/07/25 03:28 PM EDT

03:28 PM EDT, 08/07/2025 (MT Newswires) -- Financial stocks dropped in late Thursday afternoon trading with the NYSE Financial Index down 0.7% and the Financial Select Sector SPDR Fund (XLF) falling 1.2%.

The Philadelphia Housing Index rose 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.3%.

Bitcoin (BTC-USD) advanced 1.5% to $116,588, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.25%.

In economic news, initial jobless claims last week rose to 226,000 from an upwardly revised 219,000 in the previous week, compared with expectations for 222,000 in a survey compiled by Bloomberg.

Consumer expectations for one-year US inflation growth rose to a 3.1% gain in July from a 3% gain in the previous month, according to a survey released by the New York Federal Reserve Bank.

In corporate news, Apollo Global Management (APO) is increasing its loan to SoftBank's Vision Fund 2 by $900 million, bringing the total to $5.4 billion in net-asset value financing, Bloomberg reported. Apollo shares fell 3.6%.

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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