Sector Update: Financial Stocks Higher Friday Afternoon

01:49 PM EDT, 05/22/2026 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.7%.

The Philadelphia Housing Index was down 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.1%.

Bitcoin (BTC-USD) was declining 0.9% to $76,888, and the yield for 10-year US Treasuries was down 1.4 basis points at 4.57%.

In economic news, Kevin Warsh was sworn in as chair of the US Federal Reserve in a ceremony at the White House, media outlets reported Friday. Warsh returns to the Fed after serving as a board member from 2006 to 2011, the reports said.

The University of Michigan consumer sentiment index was revised down to 44.8 for May from 48.2 preliminary, compared with expectations for a no revision in a Bloomberg survey and a drop from the final 49.8 in April.

The Conference Board's measure of leading indicators rose by 0.1% in April following a 0.6% decrease in March.

In corporate news, JPMorgan Chase (JPM) is in discussions with investors over a deal to offload some of its risk exposure to over $4 billion in private equity-linked net asset value loans, the Financial Times reported. JPMorgan (JPM) shares rose 1.4%.

Citigroup (C/PN) (C) plans to direct a substantial portion of its wealth management hiring toward Asia, Reuters reported, citing an interview with Andy Sieg, head of the bank's global wealth business. Citi shares added 0.6%.

KKR-backed (KKR) space company OHB and weapons manufacturer KNDS are considering moving their planned share sales to avoid a clash with SpaceX's (SPCX) initial public offering in the US, Bloomberg reported. KKR shares were down 0.5%.

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