Sector Update: Financial Stocks Advance Late Afternoon

MT newswire2026/10/06 19:43

03:43 PM EDT, 10/06/2026 (MT Newswires) -- Financial stocks rose in late Tuesday afternoon trading, with the NYSE Financial Index adding 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.2%. The Philadelphia Housing Index climbed 1.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 1%. Bitcoin (BTC-USD) decreased 0.2% to $85,521, and the yield for 10-year US Treasuries fell 3.4 basis points to 5.28%. In economic news, the US international trade deficit widened to $105.57 billion in August from a $92.83 billion gap in July, compared with a $102.1 billion shortfall expected in a survey compiled by Bloomberg. Redbook US same-store sales last week rose 8.6% from a year earlier after an 8.2% increase in the previous week. In corporate news, Prudential Financial's (PRU) Brazil and Mexico businesses have drawn interest from MetLife (MET) and CNP Assurances in a potential deal that could generate about $3 billion for Prudential, Bloomberg reported. Prudential shares rose 0.3%. Banco Bradesco (BBD) shares climbed nearly 4% after JPMorgan upgraded the stock to overweight from neutral. Ares Management (ARES) will recover only about 50% of the money it invested in TalkTalk after BT Group agreed to buy the telecommunications firm out of insolvency, Bloomberg reported. Ares shares added 0.8%. HSBC (HSBC) and other UK banks met with UK Chancellor John Healey, who said he is facing a "challenging" fiscal picture, while not indicating whether higher taxes would be imposed on banks, the Financial Times reported. HSBC shares were up 1.1%.

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