Sector Update: Financial Stocks Climb Late Afternoon

03:56 PM EDT, 10/20/2025 (MT Newswires) -- Financial stocks were advancing in late Monday trading, with the NYSE Financial Index adding 1.1% and the Financial Select Sector SPDR Fund (XLF) rising 1.3%.

The Philadelphia Housing Index increased 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 1%.

Bitcoin (BTC-USD) was increasing 1.9% to $110,690, and the yield for 10-year US Treasuries was shedding 2 basis points to 3.99%.

In economic news, the partial US federal government shutdown entered its 20th day on Monday, making it the third-longest shutdown in the country's history, according to media reports. The shutdown "is likely to end sometime this week" as "moderate" Democrats come together to strike a deal, Kevin Hassett, National Economic Council director, told CNBC.

In corporate news, Blackstone (BX) and TPG (TPG) are in advanced talks to buy Hologic (HOLX) in a deal that may value the medical device maker at more than $17 billion including debt, Bloomberg reported. Hologic shares rose 2.8%.

HBT Financial (HBT) and CNB Bank Shares said they have agreed to a $170.2 million cash-and-stock merger deal. HBT rose 3.6%.

KKR (KKR) is launching a marine container leasing platform called Galaxy Container Solutions with $500 million in capital already committed from its asset-based finance strategy, Bloomberg reported. KKR shares rose 2.2%.

Progressive's (PGR) September results have likely eroded the optimistic outlook for its stock, Morgan Stanley said in a note. It downgraded the stock to underweight from equal-weight, and cut its price target to $214 from $265. Shares were down 2.5%.

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