Sector Update: Financial Stocks Ease Monday Afternoon

01:43 PM EST, 12/01/2025 (MT Newswires) -- Financial stocks were lower in Monday afternoon trading, with the NYSE Financial Index down 0.2% and the Financial Select Sector SPDR Fund (XLF) decreasing 0.3%.

The Philadelphia Housing Index rose 0.3%, while the Real Estate Select Sector SPDR Fund (XLRE) fell 1.1%.

Bitcoin (BTC-USD) was falling nearly 6% to $85,041, and the yield for 10-year US Treasuries jumped 8 basis points to nearly 4.10%.

In economic news, the Institute for Supply Management's US manufacturing index fell to 48.2 in November from 48.7 in October, compared with expectations for an increase to 49.0 in a survey compiled by Bloomberg.

The S&P Global US manufacturing index for November was revised upwards to 52.2 from the flash reading of 51.9, compared with expectations for no revision in a survey compiled by Bloomberg.

In corporate news, Goldman Sachs (GS) said it has agreed to buy Innovator Capital Management in a $2 billion deal, payable in a mix of cash and equity contingent on meeting performance targets. Goldman shares were down 1.5%.

JPMorgan Chase (JPM) plans to double its Swiss domestic private banking business by 2030 by targeting the country's wealthiest clients, Reuters reported Monday, quoting a senior executive at the company. JPMorgan (JPM) shares were decreasing 0.7%.

UBS (UBS) faces claims that it and its Credit Suisse unit failed to stop suspected money laundering tied to loans to Mozambican state-owned companies, Switzerland's federal prosecutor said. UBS shares were up 0.1%.

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