Sector Update: Financial Stocks Softer in Afternoon Trading

02:03 PM EDT, 09/12/2025 (MT Newswires) -- Financial stocks were decreasing in Friday afternoon trading, with the NYSE Financial Index down 0.4% and the Financial Select Sector SPDR Fund (XLF) off 0.3%.

The Philadelphia Housing Index was falling 1.6%, and the Real Estate Select Sector SPDR Fund (XLRE) was easing 0.3%.

Bitcoin (BTC-USD) was increasing 1.1% to $115,841, and the yield for 10-year US Treasuries was rising 6 basis points to 4.07%.

In economic news, the University of Michigan's preliminary consumer sentiment index declined to 55.4 in September from 58.2 in August, missing the 58.0 estimate compiled by Bloomberg.

In corporate news, Blackstone (BX) is considering the sale of a Spanish rental portfolio, Bloomberg reported. The potential sale, covering roughly 1.2 billion euros ($1.4 billion) of homes, is being advised by Jones Lang LaSalle and Eastdil Secured. Blackstone shares were down past 1%.

Ares Management (ARES) is planning a 1.5 billion euro ($1.76 billion) credit secondaries transaction of investor stakes, Bloomberg reported. Ares shares were shedding 0.3%.

Opendoor Technologies (OPEN) has to cut its headcount by as much as 85%, its co-founder and new chair Keith Rabois said in an interview with CNBC on Friday. Opendoor (OPEN) shares tumbled 14%.

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