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Sector Update: Financial

BY MT Newswires | TREASURY | 01:39 PM EDT

01:39 PM EDT, 06/02/2026 (MT Newswires) -- Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.1%.

The Philadelphia Housing Index was adding 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.3%.

Bitcoin (BTC-USD) was dropping 5.2% to $67,610, and the yield for 10-year US Treasuries was decreasing 1.6 basis points to 4.459%.

In corporate news, SpaceX is in talks with the Wall Street bankers handling its IPO to pay less than 0.75% for the $75 billion it expects to raise from the IPO, Bloomberg reported. Even at that low spread, the banks, including Goldman Sachs (GS) and Morgan Stanley (MS) , are expected to earn about $500 million from the offering, the report said. Goldman shares were up 1.9%, and Morgan Stanley (MS) climbed 2.5%.

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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