Sector Update: Financial Stocks Advance Late Afternoon

04:10 PM EDT, 09/17/2025 (MT Newswires) -- Financial stocks were rising in late Wednesday afternoon trading, with the NYSE Financial Index up 0.9% and the Financial Select Sector SPDR Fund (XLF) adding 1%.

The Philadelphia Housing Index was decreasing 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.3%.

Bitcoin (BTC-USD) was declining 0.6% to $115,830, and the yield for 10-year US Treasuries rose 2.5 basis points to 4.05%.

The Federal Reserve reduced its benchmark lending rate by 25 basis points Wednesday, noting increased downside risks to employment and signaling further policy easing later in 2025. The central bank's Federal Open Market Committee lowered interest rates to a range of 4% to 4.25%, in line with Wall Street's expectations. The previous rate cut was in December.

In corporate news, Bank of America (BAC) said Wednesday it's increasing its military hiring and plans to add 10,000 more people with military backgrounds in the next five years. Its shares rose 1.5%.

Rithm Capital (RITM) said Wednesday it has agreed to buy real estate investment trust Paramount Group (PGRE) for $1.6 billion in cash. Rithm shares gained 3.4%, and Paramount Group (PGRE) fell over 11%.

Goldman Sachs (GS) is assessing investor sentiment for a $6 billion loan to support Thoma Bravo's $12.3 billion acquisition of software company Dayforce (DAY) , Bloomberg reported. Goldman shares were up 1.4%.

Carlyle (CG) and Macquarie held talks about Macquarie buying Carlyle, but those discussions fizzled out this summer, Semafor reported. Carlyle shares rose 1.1%.

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