Sector Update: Financial Stocks Rise Tuesday Afternoon

02:00 PM EDT, 08/26/2025 (MT Newswires) -- Financial stocks advanced in Tuesday afternoon trading with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) adding 0.2%.

The Philadelphia Housing Index was little changed, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.3%.

Bitcoin (BTC-USD) fell 0.3% to $109,894, and the yield for 10-year US Treasuries dropped 2 basis points to 4.26%.

In economic news, President Donald Trump said he has fired Federal Reserve Governor Lisa Cook. Trump disclosed a letter late Monday on Truth Social addressed to Cook, stating that she is "hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately," citing information from Federal Housing Finance Agency Director William Pulte and Attorney General Pam Bondi that Cook "may have made false statements on one or more mortgage agreements." In a statement on Monday, Cook said Trump "has no authority" to fire her "for cause" because "no cause exists," according to media reports.

US home prices in June fell sequentially, while the annual growth rate was the slowest since the summer of 2023, S&P Global (SPGI) division S&P Dow Jones Indices said.

In corporate news, UBS (UBS) has been approached by Switzerland's economy ministry for support in securing a better trade agreement with the US, Bloomberg reported. UBS shares rose 0.5%.

Bank of Nova Scotia (BNS) shares climbed 5.3% after it posted higher fiscal Q3 results.

TPG (TPG) agreed to buy Irth Solutions from Blackstone's (BX) energy-focused private equity arm for an undisclosed sum. TPG shares rose 0.9%, and Blackstone added 0.3%.

Solowin (SWIN) shares jumped past 8% after it said Tuesday it has invested in ME Group, a Web 3 industry news platform and provider of brand growth strategies.

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