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Sector Update: Financial Stocks Decline Late Afternoon

BY MT Newswires | TREASURY | 01/07/26 03:57 PM EST

03:57 PM EST, 01/07/2026 (MT Newswires) -- Financial stocks were decreasing in late Wednesday trading, with the NYSE Financial Index down 1% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.3%.

The Philadelphia Housing Index dropped 2.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.9%.

Bitcoin (BTC-USD) was declining 3% to $90,869, and the yield for 10-year US Treasuries fell 4 basis points to 4.14%.

In economic news, US job openings fell to 7.146 million in November, according to the Bureau of Labor Statistics, below the 7.648 million expected in a survey compiled by Bloomberg and down from the 7.449 million in October.

ADP's monthly measure of private payrolls showed a 41,000 increase in December, below expectations compiled by Bloomberg for a gain of 50,000. The December print followed an upwardly revised reduction of 29,000 jobs in November.

The Institute for Supply Management's US services index rose to 54.4 in December from 52.6 in November, compared with expectations for 52.2 in a Bloomberg survey.

In corporate news, President Donald Trump said Wednesday on Truth Social that he is taking steps to ban large institutional investors from purchasing more single-family homes. Shares of asset managers Blackstone (BX) and Apollo Global Management (APO) fell 5.6% and 5% respectively. Single-family rental homes manager Invitation Homes (INVH) dropped 5.9%.

JPMorgan Chase's (JPM) asset management unit is ending relations with proxy advisory firms immediately, according to an internal communication seen by MT Newswires. JPMorgan (JPM) shares fell 2.3%.

UBS' (UBS) capital-compromise plan, proposed by lawmakers in December, won the backing of the Swiss People's Party, Bloomberg reported Wednesday, citing a consultation paper due to be submitted Thursday. The proposal allows UBS to use AT1 convertible bonds to meet some new capital requirements, which may slash the need for new equity capital, the report said. UBS shares rose 0.3%.

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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