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Sector Update: Financial Stocks Advance Late Afternoon

BY MT Newswires | TREASURY | 03:47 PM EST

03:47 PM EST, 02/04/2026 (MT Newswires) -- Financial stocks were rising in Wednesday late afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 1%.

The Philadelphia Housing Index climbed 2.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 1.7%.

Bitcoin (BTC-USD) was falling 2.7% to $73,643, and the yield for 10-year US Treasuries was slightly higher at 4.28%.

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

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 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 survey.

In corporate news, Aon's (AON) US investment subsidiary agreed to pay $15 million to settle a class-action lawsuit claiming that calculation mistakes and risky investment advice caused Pennsylvania public school teachers to make extra contributions to their pension fund, Bloomberg reported, citing a federal court filing in Philadelphia. Aon shares rose 1.6%.

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 2.4%.

Brookfield Asset Management (BAM) shares jumped 5.3% 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 1.5% after it posted Q4 earnings and total income that topped expectations.

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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