Sector Update: Financial Stocks Lower in Late Afternoon Trading

04:00 PM EDT, 05/15/2026 (MT Newswires) -- Financial stocks declined in late Friday afternoon trading with the NYSE Financial Index shedding 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) falling 0.3%.

The Philadelphia Housing Index shed 3.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.5%.

Bitcoin (BTC-USD) declined 2.5% to $79,082, and the yield for 10-year US Treasuries jumped 13.4 basis points to 4.595%.

In economic news, US industrial production rebounded more than projected in April, Federal Reserve data showed. 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, Apollo Global Management (APO)-backed (APO) West Technology is in exclusive talks for the sale of its remaining operating business as talks with debt holders continue, Bloomberg reported. Apollo shares dropped 0.5%.

Goldman Sachs (GS) is assessing demand for a significant risk transfer linked to a portfolio of loans to private market funds, Bloomberg reported. Goldman shares fell 1.9%.

HSBC (HSBC) has yet to deploy the $4 billion committed to its private credit strategy, with no current timeline for the planned investment, the Financial Times reported. HSBC (HSBC) shares dropped 2.1%.

Mizuho Financial (MFG) shares fell 1.9% after the company issued fiscal 2026 earnings guidance that trailed Wall Street estimates.

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