Sector Update: Financial Stocks Rise Late Afternoon

03:51 PM EST, 01/05/2026 (MT Newswires) -- Financial stocks were advancing in late Monday trading, with the NYSE Financial Index rising 2% and the State Street Financial Select Sector SPDR ETF (XLF) climbing 2.6%.

The Philadelphia Housing Index added 1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.5%.

Bitcoin (BTC-USD) was rising 3.2% to $94,303, and the yield for 10-year US Treasuries shed 2 basis points to 4.16%.

In economic news, activity in the US manufacturing sector contracted for a 10th straight month in December and reached its lowest reading of 2025, a survey by the Institute for Supply Management showed Monday. The ISM purchasing managers' index fell to 47.9 last month from 48.2 in November. The consensus was for a 48.4 reading in a Bloomberg survey.

In corporate news, Goldman Sachs (GS) is planning to raise $500 million to establish a Japan real estate fund for diverse property deals in the country, Bloomberg reported. Goldman shares were up 4.1%.

JPMorgan Chase (JPM) launched a new initiative called Special Advisory Services to provide key clients with its expertise in geopolitics, AI, cybersecurity, digital assets, health care and other sectors. JPMorgan (JPM) shares gained 2.8%.

QXO (QXO) received a $1.2 billion investment commitment from funds affiliated with Apollo Global Management (APO) and other investors via a new series of convertible perpetual preferred stock. QXO shares rose 18%, and Apollo climbed 2.5%.

UBS (UBS) is selling additional tier 1 debt for the first time after the Swiss parliament proposed expanding its use to meet tighter capital reserve requirements, Bloomberg reported. UBS shares rose 2.3%.

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