Sector Update: Financial Stocks Decline in Afternoon Trading

01:51 PM EDT, 09/08/2025 (MT Newswires) -- Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index fractionally down and the Financial Select Sector SPDR Fund (XLF) shedding 0.1%.

The Philadelphia Housing Index was adding 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) was falling 1%.

Bitcoin (BTC-USD) was increasing 1.3% to $112,419, and the yield of 10-year US Treasuries was shedding 1.9 basis points to 4.07%.

In economic news, at its Sept. 17 meeting, the probability the Federal Open Market Committee will cut interest rates by 25 basis points is 90%, according to the CME FedWatch Tool. The remaining 10% likelihood is for a 50-basis-point reduction, implying the Fed is set to restart its policy easing program.

In corporate news, PNC Financial Services (PNC) shares were down 0.6% after it said Monday it has agreed to buy FirstBank in a deal valued at $4.10 billion.

Robinhood (HOOD) shares jumped past 13% after S&P Dow Jones Indices said late Friday the company will join the S&P 500.

Ares Management (ARES) led a $1.9 billion preferred equity investment in Leaf Home, while Apollo Global Management (APO) led a $2 billion debt-financing package for the residential services company, Bloomberg reported. Ares shares were down 1.1%, and Apollo was rising 1.6%.

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