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Sector Update: Financial Stocks Rise in Afternoon Trading

BY MT Newswires | TREASURY | 10/03/25 01:41 PM EDT

01:41 PM EDT, 10/03/2025 (MT Newswires) -- Financial stocks advanced in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each adding about 1.1%.

The Philadelphia Housing Index climbed 1.2%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.7%.

Bitcoin (BTC-USD) rose 1.8% to $122,750, and the yield for 10-year US Treasuries increased 3 basis points to 4.11%.

In economic news, the Institute for Supply Management's US services index fell to 50.0 in September from 52.0 in August, compared with expectations for 51.7 in a Bloomberg survey.

The government's partial shutdown continued for a third day, resulting in, among other things, a suspension of the release of the non-farm payrolls data.

In corporate news, White Mountains Insurance (WTM) shares jumped 11% after the company agreed to sell a controlling stake in Bamboo to funds advised by CVC Capital Partners in a deal that values the insurance distribution platform at $1.75 billion.

BlackRock (BLK)-owned (BLK) Global Infrastructure Partners is in late-stage talks to buy Aligned Data Centers in a deal that could value the company at around $40 billion, Bloomberg reported. BlackRock (BLK) shares were 0.1% higher.

UBS-managed (UBS) funds face more than $500 million of exposure to auto parts supplier First Brands, which recently filed for Chapter 11 bankruptcy protection, Bloomberg reported Thursday. UBS shares were up 1.9%.

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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