Sector Update: Financial Stocks Mixed Late Afternoon

03:58 PM EDT, 09/29/2025 (MT Newswires) -- Financial stocks were mixed in late Monday afternoon trading, with the NYSE Financial Index down 0.1% and the Financial Select Sector SPDR Fund (XLF) adding 0.3%.

The Philadelphia Housing Index was increasing 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.2%.

Bitcoin (BTC-USD) was rising 1.7% to $114,092, and the yield for 10-year US Treasuries fell 5 basis points to 4.14%.

In economic news, pending home sales jumped 4% in August, according to the National Association of Realtors. A Bloomberg poll expected a flat reading.

In corporate news, Bank of N.T. Butterfield & Son (NTB) shares fell 3.1% after Wells Fargo (WFC) downgraded the company's stock to equalweight from overweight and lowered its price target to $50 from $54.

Shares of Wells Fargo (WFC) and US Bancorp (USB) have limited upside potential, Morgan Stanley said in a note as the brokerage downgraded ratings on both banks to equal-weight from overweight. Wells Fargo (WFC) and US Bancorp (USB) shares were down 0.4% and 1% respectively.

Blackstone (BX) has agreed to buy a 2 billion euro ($2.3 billion) portfolio of French warehouses from Proudreed, a private logistics real estate owner in France, Bloomberg reported. Blackstone shares were up 0.3%.

M&T Bank (MTB) shares shed 0.8%. The bank offers limited positive catalysts in the near term amid lower rates, Morgan Stanley said in a note as it downgraded the stock to equal-weight from overweight.

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