Sector Update: Financial Stocks Decline Wednesday Afternoon

01:53 PM EDT, 09/03/2025 (MT Newswires) -- Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index down 0.5% and the Financial Select Sector SPDR Fund (XLF) shedding 0.6%.

The Philadelphia Housing Index rose 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.4%.

Bitcoin (BTC-USD) was increasing 1.4% to $112,341, and the yield for 10-year US Treasuries was dropping 7 basis points to 4.21%.

In economic news, mortgage applications in the US fell for a third consecutive week even as the 30-year fixed rate on conforming loans reached its lowest level since April, the Mortgage Bankers Association said Wednesday.

US job openings fell to 7.181 million in July, according to the Bureau of Labor Statistics, lower than the 7.382 million openings expected in a survey compiled by Bloomberg and down from the 7.357 million openings reported in June.

New orders for US factory goods fell by 1.3% in July, as expected in a survey compiled by Bloomberg and following a 4.8% decrease in June.

In corporate news, BlackRock (BLK) has been cut off from Dutch pension fund PFZW over issues of sustainability, Reuters reported, citing the pension fund. BlackRock (BLK) shares were down 1.8%.

Goldman Sachs' (GS) asset-management business is raising funds to help distressed private equity firms and portfolio companies, Bloomberg reported. Goldman shares were shedding 0.9%.

SoFi Technologies (SOFI) said Wednesday it launched a new exchange-traded fund called SoFi Agentic AI ETF, which is listed on NYSE Arca under the symbol AGIQ and can be bought via SoFi Invest and other brokerage platforms. SoFi shares were decreasing 1.2%.

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