Content and data provided by various third parties and Fidelity - Terms of Use
Print.Print
Small font size A Larger text size A Largest text size A

Sector Update: Financial Stocks Rise Late Afternoon

BY MT Newswires | TREASURY | 08/08/25 03:54 PM EDT

03:54 PM EDT, 08/08/2025 (MT Newswires) -- Financial stocks advanced late Friday afternoon, with the NYSE Financial Index gaining 0.7% and the Financial Select Sector SPDR Fund (XLF) rising 1%.

The Philadelphia Housing Index added 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.6%.

Bitcoin (BTC-USD) fell 0.7% at $116,707, and the yield for 10-year US Treasuries rose 3.1 basis points to 4.29%.

In sector news, the Trump administration is preparing to sell stock in Fannie Mae and Freddie Mac in a deal that may raise $30 billion, The Wall Street Journal reported.

On Thursday, Trump picked Stephen Miran, chair of the Council of Economic Advisors, to replace Fed Governor Adriana Kugler. Miran will fill the Fed board seat until the end of January, while the search for a permanent replacement continues.

In corporate news, Chime Financial (CHYM) shares fell 14% following its Q2 results in the previous day.

KKR (KKR) amended its terms with institutional investors to enable it to provide a larger chunk of its deals to wealthy individuals, the Financial Times reported. KKR shares rose 0.6%.

Binance is collaborating with Spanish bank BBVA (BBVA) to allow customers to hold assets off the crypto exchange, the Financial Times reported. BBVA shares added 2.4%.

Essent (ESNT) shares jumped past 5% after it posted higher Q2 earnings and revenue that also beat analysts' estimates.

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

More Fixed Income News

All Fixed Income News

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.

© 1998 – 2014 FMR LLC.

All rights reserved.
fir_news_article