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Sector Update: Financial Stocks Advance Wednesday Afternoon

BY MT Newswires | TREASURY | 01:57 PM EDT

01:57 PM EDT, 05/20/2026 (MT Newswires) -- Financial stocks were higher in Wednesday afternoon trading, with the NYSE Financial Index rising 1.4% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%.

The Philadelphia Housing Index was climbing up 3.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.8%.

Bitcoin (BTC-USD) was increasing 0.9% to $77,453, and the yield for 10-year US Treasuries was dropping 9 basis points to 4.577%.

In US economic news, the Federal Reserve is scheduled to post minutes from its April policy meeting at 2 pm ET, in which policymakers had voted to keep the federal funds rate unchanged at 3.5% to 3.75%.

In corporate news, an Ares Management (ARES) fund and the Scion Group have purchased 12 US student-housing properties for about $910 million, Bloomberg reported. Ares rose 1.8%.

Morgan Stanley (MS) has provided Hong Kong-based investment banking employees with special iPhones and iPads for use in mainland China amid rising concerns over cross-border data compliance, the Financial Times reported. Morgan Stanley (MS) shares were up 4.1%.

Lincoln International (LCLN) shares were up 13% after the stock marked its New York Stock Exchange debut at higher than the $20-per-share initial public offering price.

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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