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Sector Update: Financial

BY MT Newswires | TREASURY | 08/28/25 01:38 PM EDT

01:38 PM EDT, 08/28/2025 (MT Newswires) -- Financial stocks edged higher in Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each up 0.1%.

The Philadelphia Housing Index fell 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) dropped 0.6%.

Bitcoin (BTC-USD) gained 1.1% to $112,516, and the yield for 10-year US Treasuries was dropping 3 basis points to 4.21%.

In corporate news, Gryphon Digital Mining (GRYP) is nearing the completion of its merger with American Bitcoin, with the combined company aiming to begin Nasdaq trading in early September under the ticker ABTC, Reuters reported, citing Hut 8 (HUT) Chief Executive Officer Asher Genoot, whose company holds an 80% stake in American Bitcoin. Gryphon shares jumped 20%, and Hut 8 gained 0.5%.

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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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