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Sector Update: Financial Stocks Lower Late Afternoon

BY MT Newswires | TREASURY | 09/15/25 03:56 PM EDT

03:56 PM EDT, 09/15/2025 (MT Newswires) -- Financial stocks were softer in late Monday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) easing 0.3%.

The Philadelphia Housing Index was falling 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.1%.

Bitcoin (BTC-USD) was declining 0.2% to $115,157, and the yield for 10-year US Treasuries fell 3 basis points to 4.03%.

In economic news, the New York Federal Reserve's Empire State manufacturing index fell to minus 8.7 in September from 11.9 in August, compared with a decrease to 5.0 in a Bloomberg survey. The Empire State index is one of the first manufacturing sector readings for September and suggests a return to contraction after two months of expansion.

In regulatory news, the US Securities and Exchange Commission is taking steps to soften an aggressive enforcement agenda against companies, the Financial Times reported, citing Chair Paul Atkins. The SEC boss also told the newspaper he's aiming to fulfill President Donald Trump's promise to make the US the cryptocurrency capital of the world.

In corporate news, New Mountain Finance (NMFC) shares fell 5% after BofA Securities downgraded the stock to underperform from buy and cut its price target to $10.00 from $11.75.

Brookfield Asset Management (BAM) is in talks to buy Singaporean sovereign wealth fund GIC's stake in Yes! Communities in a deal that could be worth more than $10 billion, media outlets reported Sunday. Brookfield was up 2%.

Blackstone (BX) agreed to buy a natural gas power plant in Western Pennsylvania from private investment firm Ardian for about $1 billion amid growing electricity demand for AI technologies. Blackstone shares gained 1.1%.

Barclays (BCS) is planning to spend at least $1 billion to renovate its regional headquarters in New York's Times Square, Bloomberg reported. Barclays shares added 1.5%.

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

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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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