Content and data provided by various third parties and Fidelity - Terms of Use
Print.Print
Small font size A Larger text size A Largest text size A

Sector Update: Financial Stocks Rise in Afternoon Trading

BY MT Newswires | TREASURY | 09/04/25 01:52 PM EDT

01:52 PM EDT, 09/04/2025 (MT Newswires) -- Financial stocks advanced in Thursday afternoon trading, with the NYSE Financial Index rising 0.6% and the Financial Select Sector SPDR Fund (XLF) adding 0.8%.

The Philadelphia Housing Index climbed 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.1%.

Bitcoin (BTC-USD) fell 2.1% to $109,437, and the yield for 10-year US Treasuries dropped 3.5 basis points to 4.18%.

In economic news, the US Department of Justice has initiated a criminal investigation into Federal Reserve Governor Lisa Cook, probing whether she submitted fraudulent mortgage application information, The Wall Street Journal reported.

ADP's monthly measure of private payrolls showed a 54,000 gain in August, lower than the 68,000 rise expected in a Bloomberg poll and following an upwardly revised 106,000 increase in July.

Initial jobless claims rose to a level of 237,000 in the week ended Aug. 30 from 229,000 in the previous week, against expectations for a smaller rise to 230,000 in a Bloomberg poll.

In corporate news, Goldman Sachs (GS) plans to buy up to $1 billion worth of T. Rowe Price (TROW) shares as they collaborate to offer retirement and wealth management products. Goldman aims to acquire up a 3.5% stake in the asset management firm through a series of open-market stock purchases. T. Rowe shares jumped 6%, and Goldman rose 1.8%.

BlackRock (BLK) will manage about $80 billion in assets for thousands of Citigroup's (C) Citi Wealth clients under a new portfolio offering called Citi Portfolio Solutions powered by BlackRock (BLK), Citi Wealth said Thursday. BlackRock (BLK) shares added 0.8%, and Citi gained 1.7%.

Blackstone (BX) and State Street (STT) Investment Management are teaming up to roll out an exchange-traded fund focused on European collateralized loan obligations, Bloomberg reported. Blackstone shares rose 1.3%, and State Street increased 0.6%.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

More Fixed Income News

All Fixed Income News

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.

© 1998 – 2014 FMR LLC.

All rights reserved.
fir_news_article