Sector Update: Financial Stocks Rise Friday Afternoon

01:38 PM EST, 01/16/2026 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each rising 0.7%.

The Philadelphia Housing Index was down 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 1.1%.

Bitcoin (BTC-USD) was declining 0.9% to $95,117, and the yield for 10-year US Treasuries was rising 5.7 basis points to 4.22%.

In economic news, US industrial production rose by 0.4% in December, compared with expectations for a smaller 0.1% increase in a survey compiled by Bloomberg.

The National Association of Home Builders' monthly housing market index fell to 37 in January from 39 in December, compared with expectations for 40 in a Bloomberg-compiled survey.

In corporate news, PNC Financial Services (PNC) reported Q4 results above Wall Street's estimates on Friday amid net interest income gains and lower provision for credit losses. Its shares jumped 3.9%.

JPMorgan Chase (JPM) is now the top global issuer of actively managed exchange-traded managed funds, or ETFs, at almost $257 billion, surpassing Dimensional Fund Advisors, which controls roughly $255 billion of ETFs, Bloomberg reported. Separately, JPMorgan (JPM) is forming a team within its investment bank to help companies get access to private capital as an alternative to going public, The Wall Street Journal reported. JPMorgan (JPM) shares gained 1.9%.

Education tech firm Cengage, which is backed by KKR (KKR) and Apax Partners, is mulling an IPO that could raise about $500 million, Bloomberg reported. KKR shares rose 1.1%.

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