Sector Update: Financial Stocks Rise Late Afternoon

03:50 PM EDT, 05/22/2026 (MT Newswires) -- Financial stocks rose in late Friday afternoon trading, with the NYSE Financial Index increasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%.

The Philadelphia Housing Index advanced 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.3%.

Bitcoin (BTC-USD) was falling 2.3% to $75,797, and the yield for 10-year US Treasuries declined 2.8 basis points to 4.558%.

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 1.1%.

Brookfield (BN) is among the companies exploring a potential deal that could value fertility clinic operator Fakih IVF at about $1 billion, the Financial Times reported. Brookfield shares were fractionally higher.

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 were fractionally lower.

Mastercard (MA) is looking to minimize its losses from Banco Master's failure by asking some of Brazil's largest payment processors to help foot the bill, Bloomberg reported. Mastercard (MA) shares were slightly lower.

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