Sector Update: Financial Stocks Lower Late Afternoon

03:52 PM EST, 02/10/2026 (MT Newswires) -- Financial stocks were lower late Tuesday afternoon, with the NYSE Financial Index shedding 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.8%.

The Philadelphia Housing Index was up 3.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1.6%.

Bitcoin (BTC-USD) was declining 1.9% to $68,855, and the yield for 10-year US Treasuries dropped 5 basis points to 4.15%.

In economic news, US retail sales held steady in December, the Census Bureau said, as consumers appeared to pull back on spending at the end of 2025 after kicking the holiday season off at a strong pace. A Bloomberg poll called for a 0.4% rise.

Business inventories rose 0.1% in November, versus expectations for a 0.2% increase in a Bloomberg survey and a 0.2% increase in the previous month.

The quarterly US employment cost index rose 0.7% in Q4, slower than the 0.8% gain in the previous quarter, the US Bureau of Labor Statistics reported. The print was below consensus for a 0.8% gain in a Bloomberg poll.

In corporate news, Morgan Stanley (MS) rehired Michael Grimes following his work at the US Commerce Department, Bloomberg reported, citing an internal memo. Grimes will serve as chairman of investment banking, the report said. He previously helped lead technology investment banking. Morgan Stanley (MS) shares were down 2.8%.

S&P Global (SPGI) shares fell past 9% after it posted Q4 adjusted earnings that missed analysts' expectations. It also issued 2026 adjusted EPS outlook below consensus.

Glacier Bancorp (GBCI) shares were down 2.5% after Janney downgraded the stock to neutral from buy.

GCM Grosvenor (GCMG) shares jumped past 13% after it reported Tuesday Q4 adjusted net income and operating revenue that rose year on year and beat analysts' estimates.

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