Sector Update: Financial Stocks Mixed in Late Afternoon Trading

03:58 PM EDT, 10/15/2025 (MT Newswires) -- Financial stocks were mixed late Wednesday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) easing 0.1%.

The Philadelphia Housing Index was down 0.5%, while the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.5%.

Bitcoin (BTC-USD) was falling 1.3% to $111,226, and the yield for 10-year US Treasuries rose 1.6 basis points to 4.04%.

In economic news, mortgage applications in the US dropped for a third straight week amid decreases in conventional and Veterans Affairs applications, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, fell 1.8% on a seasonally adjusted basis for the week ended Friday, following drops of 4.7% and 13% in the previous two weeks.

In corporate news, Bank of America (BAC) reported stronger-than-expected Q3 results, buoyed by investment banking and asset management fees. Its shares climbed 4.3%.

Progressive's (PGR) Q3 profit rose less than Wall Street's expectations, while the insurance company's combined ratio deteriorated. Its shares fell 5.8%.

Morgan Stanley (MS) shares gained 4.2% after it reported Q3 earnings and revenue above market expectations.

UBS (UBS) has lost a $440 million claim against Japan's SoftBank related to the collapse of Greensill Capital in 2021, the Financial Times reported. UBS shares were down 2.3%.

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