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Sector Update: Financial

BY MT Newswires | TREASURY | 10/03/25 03:43 PM EDT

03:43 PM EDT, 10/03/2025 (MT Newswires) -- Financial stocks advanced in late Friday afternoon trading, with the NYSE Financial Index up 0.9% and the Financial Select Sector SPDR Fund (XLF) adding 0.8%.

The Philadelphia Housing Index rose 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.6%.

Bitcoin (BTC-USD) gained 1.7% to $122,686, and the yield for 10-year US Treasuries increased 3 basis points to nearly 4.12%.

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, Bank of Montreal (BNKD) faces limited upside at its current valuation unless the company delivers significant earnings growth and further improves its return on equity, RBC Capital Markets said Friday in a report. RBC downgraded Bank of Montreal (BNKD) to sector perform from outperform. Bank of Montreal (BNKD) shares were down 0.9%.

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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