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Sector Update: Financial Stocks Higher Late Afternoon

BY MT Newswires | TREASURY | 10/24/25 03:56 PM EDT

03:56 PM EDT, 10/24/2025 (MT Newswires) -- Financial stocks advanced in late Friday afternoon trading, with the NYSE Financial Index up 1% and the Financial Select Sector SPDR Fund (XLF) adding 1.3%.

The Philadelphia Housing Index rose 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.6%.

Bitcoin (BTC-USD) added 0.3% to $110,928, and the yield for 10-year US Treasuries was one basis point higher at 4.00%.

In economic news, the consumer price index rose 0.3% month-over-month in September, below August's seven-month high of 0.4%, according to the Bureau of Labor Statistics. A Bloomberg-polled consensus expected a 0.4% gain. Annually, inflation accelerated to 3% from 2.9% but remained below the 3.1% estimate.

The University of Michigan consumer sentiment index for October was revised down Friday to 53.6 from the 55.0 print in the preliminary estimate, compared with expectations for a smaller downward revision to 54.5 in a survey compiled by Bloomberg.

In corporate news, Coinbase (COIN) shares jumped nearly 10% after JPMorgan (JPM) upgraded the crypto trading platform company to overweight from neutral and raised its price target to $404 from $342.

Brookfield Asset Management (BAM) is in exclusive talks to buy two inactive nuclear reactors in South Carolina from Santee Cooper in a potential multi-billion-dollar deal aimed at meeting burgeoning power demand from AI data centers, the Wall Street Journal reported Friday, citing Santee executives. Brookfield shares rose 1.3%.

JPMorgan Chase (JPM) plans to allow institutional clients to use their bitcoin (BTC-USD) and ether (ETH-USD) holdings as collateral for loans by the end of 2025, Bloomberg reported. JPMorgan (JPM) shares added 2%.

Blackstone (BX) is one of multiple private equity firms weighing a potential offer for UnitedHealth's (UNH) Optum UK operation, Sky News reported. Blackstone shares eased 0.1%.

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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