Sector Update: Financial Stocks Rise Late Afternoon

03:41 PM EDT, 08/14/2025 (MT Newswires) -- Financial stocks advanced late Thursday afternoon trading, with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund (XLF) adding 0.5%.

The Philadelphia Housing Index was falling 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.6%.

Bitcoin (BTC-USD) was declining 3.2% to $118,225, and the yield for 10-year US Treasuries increased 4.9 basis points to 4.29%.

In economic news, the US Producer Price Index rose 0.9% in July from flat in June, above the 0.2% forecast in a survey compiled by Bloomberg and the largest monthly gain since June 2022, according to the Bureau of Labor Statistics.

In corporate news, Texas Pacific Land (TPL) shares rose 3.6% after the company said it was launching a dual listing of its shares on the NYSE Texas.

BBVA (BBVA) has appealed the Spanish government's decision to block it from fully integrating Banco Sabadell if its takeover bid succeeds, Bloomberg reported. BBVA shares gained 1.7%.

Bank of Nova Scotia (BNS) shares were down 0.2% after Bloomberg reported late Wednesday the company has downsized its workforce at its US and Asia Pacific investment banking divisions.

JPMorgan Chase (JPM) has seen the recent departure of two credit traders and its head of credit sales in Hong Kong, Bloomberg reported. JPMorgan (JPM) shares were rising 1%.

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