Sector Update: Financial

03:42 PM EST, 01/14/2026 (MT Newswires) -- Financial stocks declined in Wednesday late afternoon trading, with the NYSE Financial Index fractionally lower and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.2%.

The Philadelphia Housing Index was falling 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.9%.

Bitcoin (BTC-USD) was increasing 2.2% to $97,472, and the yield for 10-year US Treasuries fell 3 basis points to 4.14%.

In corporate news, Citigroup (C) CEO Jane Fraser, in a memo on Wednesday, told staff that the "bar is raised" and signaled more job cuts ahead, following about 1,000 layoffs already made this week, Bloomberg reported, citing a copy of the note. Fraser said Citi is "not graded on effort but on results" as she pushed to lift profitability and investor returns after years of underperformance since the 2008 financial crisis, the report said. Citi's Q4 results Wednesday 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 were down 4%.

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