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Sector Update: Financial

BY MT Newswires | TREASURY | 08/21/25 03:28 PM EDT

03:28 PM EDT, 08/21/2025 (MT Newswires) -- Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index dropping 0.2% and the Financial Select Sector SPDR Fund (XLF) shedding 0.4%.

The Philadelphia Housing Index declined 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) lost 0.4%.

Bitcoin (BTC-USD) fell 1.5% to $112,562, and the yield for 10-year US Treasuries rose 3 basis points to 4.33%.

In economic news, the August flash reading of US manufacturing conditions from S&P Global rose to 53.3 from 49.8 in July, compared with an expected reading of 49.7 in a survey compiled by Bloomberg.

The pace of US existing home sales rose by 2% to a 4.01 million seasonally adjusted annual rate in July from 3.93 million in June, compared with an expected decrease to a 3.92 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors showed.

US initial jobless claims last week increased to 235,000 from the previous week's unrevised reading of 224,000, according to the Department of Labor. The consensus was for a smaller gain to 225,000 in a Bloomberg poll.

In corporate news, Goldman Sachs (GS) committed $6 billion in debt financing to support Thoma Bravo's takeover of Dayforce (DAY), Bloomberg reported. Goldman shares fell 0.7%.

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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