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Sector Update: Financial

BY MT Newswires | TREASURY | 01:34 PM EDT

01:34 PM EDT, 06/03/2026 (MT Newswires) -- Financial stocks were lower in Wednesday afternoon trading, with the NYSE Financial Index decreasing 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 1%.

The Philadelphia Housing Index was down 0.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 0.6%.

Bitcoin (BTC-USD) was falling 1.2% to $65,838, and the yield for 10-year US Treasuries was rising 4 basis points to 4.495%.

In corporate news, Amazon-backed (AMZN) Anthropic has chosen Goldman Sachs (GS) and Morgan Stanley (MS) to lead its initial public offering, Bloomberg reported. JPMorgan Chase (JPM) is also working on the deal, the report said. Goldman shares were down 1.8%, Morgan Stanley (MS) shed 2%, and JPMorgan (JPM) decreased 0.3%.

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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