Sector Update: Financial Stocks Decline Wednesday Afternoon

01:30 PM EST, 01/14/2026 (MT Newswires) -- Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.7%.

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

Bitcoin (BTC-USD) was increasing 2% to $97,288, and the yield for 10-year US Treasuries was falling 3 basis points to 4.14%.

In economic news, the US Producer Price Index rose by 0.2% in November following a 0.1% increase in October, as expected in a survey compiled by Bloomberg. After excluding food and energy prices, core PPI was flat, below the 0.2% gain expected and following a 0.3% increase in the previous month.

US retail sales rose more than projected in November as outlays on motor vehicles and at fuel stations turned positive, delayed government data showed Wednesday. Sales grew 0.6% sequentially in November, following a 0.1% decrease the previous month, the Census Bureau said. The consensus was for a 0.5% increase in a Bloomberg-compiled consensus.

In corporate news, Wells Fargo (WFC) on Wednesday reported Q4 adjusted earnings above market expectations, although revenue fell short of estimates amid weakness in investment banking. Its shares dropped 5.1%.

Citigroup's (C) Q4 results missed Wall Street's views as it booked a $1.1 billion after-tax loss on the planned sale of its Russian operations. Citi shares fell 4.2%.

Bank of America (BAC) reported better-than-expected Q4 results on Wednesday, buoyed by double-digit gains in asset management fees, while Chief Executive Brian Moynihan said the lender is "bullish" on the US economy in 2026. Its shares were still down 4.8%.

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