Sector Update: Financial Stocks Rise Late Afternoon

03:58 PM EST, 02/20/2026 (MT Newswires) -- Financial stocks advanced late Friday afternoon trading, with the NYSE Financial Index adding 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) rising 0.4%.

The Philadelphia Housing Index increased 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.7%.

Bitcoin (BTC-USD) was up 1.1% to $67,697, and the yield for 10-year US Treasuries was rising 1.1 basis points to 4.09%.

In economic news, US President Donald Trump on Friday announced additional 10% global tariffs after the Supreme Court struck down his reciprocal duties imposed last year. The Supreme Court invalidated Trump's levies invoked under the International Emergency Economic Powers Act, which Chief Justice John Roberts said does not authorize Trump to do so.

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.

In corporate news, JPMorgan Chase (JPM) and a lender group are set to raise $5.3 billion in debt to fund Qualtrics International's acquisition of health care survey firm Press Ganey Forsta, Bloomberg reported. JPMorgan (JPM) shares were up 0.6%.

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 4%.

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 1.3%.

Erie Insurance (ERIE) shares were down 0.5% after it said Friday that Tim NeCastro will retire as president and chief executive on Dec. 31.

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