Sector Update: Financial Stocks Mixed Late Afternoon

03:56 PM EDT, 04/29/2026 (MT Newswires) -- Financial stocks were mixed in late Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.2% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.1%.

The Philadelphia Housing Index was falling 1.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.9%.

Bitcoin (BTC-USD) was declining 1.4% to $75,268.8, and the yield for 10-year US Treasuries rose 6.2 basis points to 4.42%.

In economic news, the Federal Open Market Committee maintained its federal funds rate target at 3.50% to 3.75%, as expected, but four officials dissented, its statement Wednesday afternoon showed.

Federal Reserve Chair Jerome Powell said Wednesday at a press conference that he will remain on the Federal Reserve board for a period of time after his term as chair ends on May 15, noting the recent attacks on the Fed and saying that "the things that have happened really in the last three months I think left me no choice but to stay until I see them through at least that long."

In corporate news, Blackstone (BX) is planning to integrate its growth business into a new West Coast-based unit that will focus on its AI portfolio and high-growth tech bets, Bloomberg reported, citing an internal company note. Blackstone shares were down 1.6%.

PayPal (PYPL) Chief Executive Enrique Lores told managers this week that he is reorganizing the company to make Venmo its own standalone segment within PayPal (PYPL), CNBC reported. PayPal (PYPL) shares rose 2.6%.

Robinhood (HOOD) shares fell past 13% after it reported Q1 earnings and revenue that missed analysts' expectations.

Visa (V) shares jumped more than 8% after it lifted its full-year growth outlook and reported better-than-expected fiscal Q2 results.

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