Sector Update: Financial Stocks Lower in Afternoon Trading

01:56 PM EDT, 05/15/2026 (MT Newswires) -- Financial stocks declined in Friday afternoon trading, with the NYSE Financial Index shedding 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%.

The Philadelphia Housing Index was down 3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.4%.

Bitcoin (BTC-USD) was declining 2.5% to $79,348, and the yield for 10-year US Treasuries jumped 12.8 basis points to 4.59%.

In economic news, US industrial production rebounded more than projected in April, buoyed the manufacturing and utilities categories, Federal Reserve data showed Friday. Industrial output rose 0.7% last month following a revised 0.3% fall in March, the Fed said. The consensus was for a 0.3% increase for April in a survey compiled by Bloomberg.

In corporate news, Goldman Sachs (GS) is assessing demand for a significant risk transfer linked to a portfolio of loans to private market funds, Bloomberg reported. The lender is a regular issuer of SRTs and has used them in the past to offload risk related to private funds, the report said, adding that final terms of the transaction are being discussed with investors. Goldman shares were down 1.6%.

Mizuho Financial (MFG) shares fell 1.3% after it issued fiscal 2026 earnings forecast below analysts' expectations.

HSBC (HSBC) has yet to deploy the $4 billion it previously committed to its private credit strategy, with no current timeline for the planned investment, the Financial Times reported. HSBC (HSBC) shares were down 2%.

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