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Sector Update: Financial Stocks Edge Higher Friday Afternoon

BY MT Newswires | TREASURY | 02:05 PM EDT

02:05 PM EDT, 03/13/2026 (MT Newswires) -- Financial stocks edged up in Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each increasing about 0.1%.

The Philadelphia Housing Index was rising 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was advancing 0.9%.

Bitcoin (BTC-USD) was increasing 2.3% to $72,145, and the yield for 10-year US Treasuries was rising 1.6 basis points to 4.29%.

In economic news, US consumer sentiment fell this month amid worries that higher energy prices could threaten personal finances as the war in the Middle East continued, a University of Michigan survey showed Friday. The headline sentiment index dropped to 55.5 from 56.6 in February, according to preliminary results of the survey. The consensus was for the index to fall to 54.8 in a Bloomberg-compiled survey.

In corporate news, CME (CME) Chief Executive Terry Duffy said the Trump administration would risk a "biblical disaster" if it tried to reduce oil prices by intervening in derivatives markets amid the ongoing US-Israel war with Iran, the Financial Times reported. "Markets do not like it when governments intervene in pricing," Duffy reportedly said at a conference. A recent report suggested the US Treasury was contemplating measures to reduce oil prices, including intervention in futures markets, according to the FT. CME shares were up 0.2%.

Brookfield Asset Management (BAM) is seeking a loan of about $800 million to support its proposed acquisition of air cargo specialist World Freight, Bloomberg reported. Brookfield shares were fractionally higher.

HSBC (HSBC) and Standard Chartered are set to become the first licensed stablecoin issuers in Hong Kong, Bloomberg reported. The two banks will be in the first batch of approvals as the Hong Kong Monetary Authority prioritizes institutions already authorized to issue banknotes, the report said. HSBC (HSBC) shares were down 1.9%.

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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