Sector Update: Financial Stocks Rise Late Afternoon

03:53 PM EST, 01/16/2026 (MT Newswires) -- Financial stocks were advancing in late Friday trading, with the NYSE Financial Index adding 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.2%.

The Philadelphia Housing Index was down 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) gained 1.2%.

Bitcoin (BTC-USD) was declining 0.6% to $94,994, and the yield for 10-year US Treasuries climbed 7 basis points to 4.23%.

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

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 survey.

In corporate news, Blue Owl Capital (OWL) is expanding into buying secondhand stakes in private asset funds from investors looking to cash out, as the secondary market hit record levels last year, Bloomberg reported. Blue Owl shares were up 1.2%.

TPG (TPG) and Clayton Dubilier & Rice are in discussions with private-credit firms, including Blue Owl Capital, to secure at least $2.5 billion of debt financing for Covetrus, Bloomberg reported. TPG shares added 0.4%.

PNC Financial Services (PNC) reported Q4 results above Wall Street estimates on Friday amid net interest income gains and lower provision for credit losses. Its shares gained 3.5%.

JPMorgan Chase (JPM) is now the top global issuer of actively managed 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 added 0.9%.

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