Sector Update: Financial Stocks Advance Late Afternoon

03:55 PM EST, 01/22/2026 (MT Newswires) -- Financial stocks were advancing in late Thursday afternoon trading, with the NYSE Financial Index up 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.5%.

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

Bitcoin (BTC-USD) was up fractionally to $89,449, and the yield for 10-year US Treasuries was slightly lower at 4.25%.

In economic news, the personal consumption expenditures, or PCE, price index rose by 0.2% in November, as expected, lifting the year-over-year rate to 2.8% from 2.7%. The price index also rose by 0.2% month-over-month in October, according to a Thursday report from the Bureau of Economic Analysis. The core PCE price index increased by 0.2%, as expected, and followed a 0.2% gain in October. The year-over-year rate rose to 2.8% from 2.7% in the previous month, the BES said.

In corporate news, JPMorgan Chase (JPM) said Thursday that President Trump's lawsuit has "no merit," and stated they close accounts due to legal or regulatory risk, not political or religious reasons. Earlier, Bloomberg reported that JPMorgan (JPM) and its CEO Jamie Dimon have been sued by Trump for at least $5 billion, alleging that the bank stopped offering him banking services for political reasons. JPMorgan (JPM) shares were up 0.4%.

Bank of America (BAC) and Citigroup (C) are considering offering credit cards with interest rates capped at 10%, Bloomberg reported. The banks are separately evaluating ways to meet President Trump's call for a one-year limit on credit-card rates, the report said. Bank of America (BAC) shares rose 0.6%, and Citi gained 1.2%.

Old Republic International (ORI) shares fell past 9% after it reported Q4 net operating income of $0.74 per diluted share, down from $0.90 a year earlier and missing analysts' estimates.

Carlyle (CG) is closing in on a deal to sell the Penha Longa Resort and Hotel in Sintra, Portugal, Bloomberg reported. The private equity giant is in talks with L Catterton, an investment vehicle backed by French luxury conglomerate LVMH, in partnership with Cedar Capital Partners, the report said. Carlyle shares shed 0.5%.

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