Sector Update: Financial Stocks Climb Late Afternoon

03:51 PM EST, 11/21/2025 (MT Newswires) -- Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) adding 1.1%.

The Philadelphia Housing Index was climbing 4.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 1.3%.

Bitcoin (BTC-USD) was falling 3.1% to $83,817, and the yield for 10-year US Treasuries decreased 4.3 basis points to 4.06%.

In economic news, New York Fed President John Williams' dovish tilt on the December monetary policy meeting almost doubled the odds of an interest-rate cut. Williams said Friday he sees room for "further adjustment" to rates in the near term.

The likelihood of a 25-basis-point cut in interest rates in December jumped to about 72% on Friday, up from 39% the previous day, according to the CME FedWatch Tool.

Separately, the November flash reading of manufacturing conditions from S&P Global fell to a four-month low of 51.9 from 52.5 in October, compared with an expected increase to 52.0 in a survey compiled by Bloomberg.

The University of Michigan consumer sentiment index was revised higher to 51.0 for November from 50.3 in the preliminary estimate, versus the 50.6 outlook in a survey compiled by Bloomberg.

In corporate news, Visa (V) and Mastercard (MA) are considering stablecoin investments to tap growing demand in developing countries and strengthen their networks against rivals, The Information reported. Visa shares rose 2%, and Mastercard (MA) popped 2.7%.

HSBC's (HSBC) Swiss private bank is raising the pay of some of its bankers in a bid to ward off staff exits, Bloomberg reported. HSBC (HSBC) shares were up 1.8%.

Blackstone-managed (BX) funds have sold a majority stake in Desotec, a provider of air, soil and water filtration systems and services, to EQT, the companies said. Blackstone shares rose 2.8%.

United Bankshares (UBSI) shares jumped 4.3% after it said in a Friday filing that its board has approved a plan to buy back up to 5 million shares.

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