Sector Update: Financial Stocks Rise in Afternoon Trading

02:01 PM EST, 02/20/2026 (MT Newswires) -- Financial stocks advanced Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each rising 0.4%.

The Philadelphia Housing Index was adding 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.6%.

Bitcoin (BTC-USD) was increasing 1.3% to $67,810, and the yield for 10-year US Treasuries was rising 1.5 basis points to 4.09%.

In sector news, the US Supreme Court struck down President Donald Trump's worldwide tariffs. In his opinion for the court, US Supreme Court Chief Justice John Roberts said that the International Emergency Economic Powers Act "does not authorize the President to impose tariffs."

US economic growth, as measured by gross domestic product, rose by an annualized 1.4% in Q4 following a 4.4% jump in the previous quarter, below the 2.8% increase expected in a Bloomberg-compiled survey.

Separately, President Trump will travel to China from March 31 to April 2 to meet with President Xi Jinping, according to media reports.

In corporate news, Blue Owl Capital (OWL) said Thursday it sold $1.4 billion of loan assets in three of its private debt funds and was barring investors in one of the funds, Blue Owl Capital Corp II, from redeeming their investments in quarterly intervals. Blue Owl shares were down 2.7%.

HSBC (HSBC) has reduced by about 10% its debt capital markets team in the US as part of a broader cost-cutting program under Chief Executive Georges Elhedery, Bloomberg reported. HSBC (HSBC) shares were adding 1.2%.

Erie Insurance (ERIE) shares were down 0.7% after it said Friday that Tim NeCastro will retire as president and chief executive on Dec. 31.

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