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Sector Update: Financial Stocks Advance Late Afternoon

BY MT Newswires | TREASURY | 10/23/25 03:59 PM EDT

03:59 PM EDT, 10/23/2025 (MT Newswires) -- Financial stocks rose in late Thursday afternoon trading, with the NYSE Financial Index increasing 0.2% and the Financial Select Sector SPDR Fund (XLF) adding 0.3%.

The Philadelphia Housing Index rose 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.1%

Bitcoin (BTC-USD) increased 2.1% to $110,530, and the yield for 10-year US Treasuries rose 4.6 basis points to 4%.

In economic news, existing home sales in the US rose in line with market estimates last month amid declining mortgage rates and improving affordability and inventory, data from the National Association of Realtors showed. Sales increased 1.5% sequentially to a seasonally adjusted annual rate of 4.06 million units in September, in line with the Bloomberg consensus.

In corporate news, Principal Financial Group (PFG) shares rose 0.6% after Morgan Stanley said Thursday in a report that the company has a more attractive valuation and fewer downside risks clouding its business outlook. Morgan Stanley upgraded the financial services company's stock to equal weight from underweight, and raised its price target to $81 from $80.

Blackstone (BX) shares fell 4% after the company reported lower-than-expected Q3 revenue.

TransUnion (TRU) shares climbed 4.6% after the company raised its 2025 guidance following stronger-than-expected Q3 results.

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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