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Sector Update: Financial

BY MT Newswires | TREASURY | 06/12/26 03:07 PM EDT

03:07 PM EDT, 06/12/2026 (MT Newswires) -- Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each rising 1.3%.

The Philadelphia Housing Index was up 0.5%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.9%.

Bitcoin (BTC-USD) was increasing 0.1% to $63,652, and the yield for 10-year US Treasuries rose 1.4 basis points to 4.477%.

In corporate news, BlackRock (BLK) and State Street Investment Management (STT) are facing fresh competition as New York City's pension system opens a bidding process for about $92 billion of stock index funds the two firms currently oversee, Bloomberg reported. BlackRock (BLK) manages about $65 billion of the passive equity portfolio and State Street about $27 billion, the report said. BlackRock (BLK) and State Street shares were each up 1.5%.

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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