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Sector Update: Financial

BY MT Newswires | TREASURY | 03:37 PM EDT

03:37 PM EDT, 05/20/2026 (MT Newswires) -- Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index rising 1.7% and the State Street Financial Select Sector SPDR ETF (XLF) adding 1.2%.

The Philadelphia Housing Index was climbing up 3.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 1.1%.

Bitcoin (BTC-USD) was increasing 1% to $77,510, and the yield for 10-year US Treasuries dropped 9.5 basis points to 4.57%.

In corporate news, Apollo Global Management (APO) was asked by two teacher organizations to investigate Chief Executive Marc Rowan's apparent use of the private equity firm's resources for his work with the Trump administration in violation of company policy, Bloomberg reported, citing a letter the groups sent to the chair of Apollo's audit committee. Apollo shares were up 0.9%.

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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