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Sector Update: Financial Stocks Softer Late Afternoon

BY MT Newswires | TREASURY | 09/24/25 03:56 PM EDT

03:56 PM EDT, 09/24/2025 (MT Newswires) -- Financial stocks were decreasing in late Wednesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund (XLF) off 0.4%.

The Philadelphia Housing Index was up 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was decreasing 0.9%.

Bitcoin (BTC-USD) was increasing 1.4% to $113,663, and the yield for 10-year US Treasuries was rising 3 basis points to 4.15%.

In economic news, US new home sales jumped by 20.5% to an 800,000 annual rate in August from an upwardly revised 664,000 annual rate in July, compared with a decrease to 650,000 expected in a survey compiled by Bloomberg.

Mortgage applications rose by 0.6% in the week ended Sept. 19 due to a further decline in 30-year fixed mortgage rates to their lowest point since September 2024, according to Mortgage Bankers Association data.

In corporate news, JPMorgan Chase (JPM) is adding its dedicated service targeting single-digit millionaires called JPMorgan Private Client to 53 of its branches in affluent areas of New York, Connecticut, Florida, and Texas, Bloomberg reported. JPMorgan (JPM) shares rose 0.1%.

Charles Schwab (SCHW) plans to offer greater access for retail investors to access stakes in private companies, Bloomberg reported, citing an interview with Chief Executive Rick Wurster. Charles Schwab (SCHW) shares were down 1.8%.

Douglas Elliman's (DOUG) trading activity ahead of reports of a takeover bid by Anywhere Real Estate (HOUS) is being investigated by the Financial Industry Regulatory Authority, Reuters reported. Douglas Elliman (DOUG) shares were down 2.8% while Anywhere shares were up 0.4%.

UBS (UBS) plans to increase payouts for its US wealth advisers starting Jan. 1 as part of efforts to maintain retention and boost recruitment amid rising competition for talent, Bloomberg reported. UBS shares were down 1.3%.

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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