Sector Update: Financial Stocks Advance Wednesday Afternoon

01:50 PM EST, 02/04/2026 (MT Newswires) -- Financial stocks were rising in Wednesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.6%.

The Philadelphia Housing Index rose 2.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) climbed 1.6%.

Bitcoin (BTC-USD) was falling 4.1% to $72,615, and the yield for 10-year US Treasuries was slightly lower at 4.27%.

In economic news, ADP's monthly measure of private payrolls expanded by 22,000 in January, below expectations compiled by Bloomberg for a gain of 45,000.

The Institute for Supply Management's US services index was unchanged at 53.8 in January, compared with expectations for a decline to 53.5 in a Bloomberg-compiled poll.

The S&P Global US services index was revised higher to 52.7 in January from the 52.5 flash reading, versus expectations for no revision in a Bloomberg-compiled survey.

In corporate news, Prologis (PLD) is in talks with investors on a potential co-investment vehicle focused on data centers, the Wall Street Journal reported, citing the company's Chief Financial Officer Tim Arndt. Prologis (PLD) shares gained 2.2%.

Brookfield Asset Management (BAM) shares jumped 4.5% after the company posted higher Q4 distributable earnings and total revenue. Brookfield said it has appointed Connor Teskey as its chief executive. Teskey succeeds Bruce Flatt, who will continue in his role as chair of the board, in addition to his role as CEO of parent company Brookfield Corp.

Banco Santander (SAN) shares added 0.2% after it posted Q4 earnings and total income that topped expectations.

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