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Sector Update: Financial Stocks Softer Late Afternoon

BY MT Newswires | TREASURY | 01/28/26 03:47 PM EST

03:47 PM EST, 01/28/2026 (MT Newswires) -- Financial stocks were decreasing in Wednesday late afternoon trading, with the NYSE Financial Index shedding 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.2%.

The Philadelphia Housing Index was fractionally higher, and the State Street Real Estate Select Sector SPDR ETF (XLRE) decreased 0.7%.

Bitcoin (BTC-USD) was increasing 0.4% to $89,498, and the yield for 10-year US Treasuries rose 2.8 basis points to 4.25%.

In economic news, the US Federal Reserve left its benchmark lending rate unchanged Wednesday, saying there have been "some signs of stabilization" in the unemployment rate. The central bank's Federal Open Market Committee held interest rates steady in a range of 3.50% to 3.75%, in line with Wall Street's expectations. Last year, the FOMC delivered three back-to-back 25-basis-point cuts amid concerns about the labor market.

In corporate news, Blackstone (BX) is weighing an increase to its financial involvement in Oracle's (ORCL) Michigan data-center project, Bloomberg reported. Blackstone shares were down 1.7%.

JPMorgan Chase (JPM) said Wednesday it will match the US government's one-time contribution of $1,000 to the retirement savings accounts of children of eligible US employees. Bank of America (BAC) will also match the government's contribution under the program, known as "Trump Accounts," Reuters reported Wednesday, citing an internal memo it saw. JPMorgan (JPM) shares were up 0.2%, and Bank of America (BAC) fell 1.1%.

Visa (V) will support President Donald Trump's new child savings accounts by allowing cardholders to use rewards points to fund them, Bloomberg reported, citing CEO Ryan McInerney at a Trump administration event. Visa shares rose 0.5%.

Goldman Sachs (GS) has assembled a team comprising the most senior executives to boost the company's ties with funds across the oil-rich Middle East, Bloomberg reported. Goldman shares added 0.5%.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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