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Sector Update: Financial Stocks Softer Late Afternoon

BY MT Newswires | TREASURY | 03:43 PM EDT

03:43 PM EDT, 05/27/2026 (MT Newswires) -- Financial stocks fell in late Wednesday afternoon trading, with the NYSE Financial Index declining 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.7%.

The Philadelphia Housing Index rose 1.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%.

Bitcoin (BTC-USD) fell 1.3% to $74,895, and the yield for 10-year US Treasuries declined about 1 basis point to 4.48%.

In economic news, Redbook US same-store sales last week jumped 9% from a year earlier after an 8.1% gain in the prior week.

The Dallas Federal Reserve's monthly general business services index improved to minus 7.7 in May from minus 9.9 in April, versus the expected minus 6.0.

The Richmond Fed's monthly manufacturing index rose to 13 in May from 3 in April, more than the 4 estimate in a Bloomberg survey.

In corporate news, JPMorgan Chase (JPM) CEO Jamie Dimon said Wednesday at a conference that the bank's expenses this year could be "closer" to $106 billion, or $1 billion higher than previously projected. Dimon also said that "there might be in the next couple of years a chance to put $10 billion or $20 billion to work buying something," referring to a potential M&A deal, according to a FactSet transcript. JPMorgan (JPM) shares fell 2.6%.

Carlyle (CG) introduced a middle-market aerospace, defense, and industrial investment platform focusing on deals in the US and Europe. Carlyle shares were fractionally higher.

Pershing Square's (PS) proposed takeover plan for Universal Music Group should be rejected, Bollore Group, which owns a roughly 18% stake in the music company, said Wednesday. Pershing Square shares were up 0.9%.

Robinhood (HOOD) is launching Agentic Trading and Agentic Credit Card, new tools that let users deploy AI agents to trade and make credit purchases on their behalf. Its shares rose 3.4%.

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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