Sector Update: Financial Stocks Rise in Afternoon Trading
MT newswire2026/10/05 17:5901:59 PM EDT, 10/05/2026 (MT Newswires) -- Financial stocks rose in Monday afternoon trading with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.7%. The Philadelphia Housing Index fell 0.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.3%. Bitcoin (BTC-USD) gained 0.1% to $85,380, and the yield for 10-year US Treasuries rose 6.5 basis points to 5.348%. In economic news, the Institute for Supply Management's US services index fell to 54.9 in September from 55.4 in August, compared with expectations for 55.0 in a survey compiled by Bloomberg. The S&P Global US services index rose to 58.8 in September from a 58.7 flash reading and was up from 56.5 reported in August, compared with expectations for no revision in a survey compiled by Bloomberg. In corporate news, Allstate (ALL) is among six major insurers facing a Senate probe into claim payment practices, the Wall Street Journal reported, citing senators' letters. Allstate shares rose 0.2%. Intercontinental Exchange (ICE) launched new tanker and container freight futures and options as average daily volume across its freight markets rose 33% this year. The shares rose 0.6%. Ares Management (ARES) is seeking a multimillion-pound upfront payment from BT Group in exchange for supporting a potential takeover of struggling broadband provider TalkTalk, Sky News reported. Ares shares gained 0.4%.
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