Sector Update: Financial Stocks Mixed in Late Afternoon Trading

MT Newswires Live10-16

Financial stocks were mixed late Wednesday afternoon trading, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) easing 0.1%.

The Philadelphia Housing Index was down 0.5%, while the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.5%.

Bitcoin (BTC-USD) was falling 1.3% to $111,226, and the yield for 10-year US Treasuries rose 1.6 basis points to 4.04%.

In economic news, mortgage applications in the US dropped for a third straight week amid decreases in conventional and Veterans Affairs applications, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, fell 1.8% on a seasonally adjusted basis for the week ended Friday, following drops of 4.7% and 13% in the previous two weeks.

In corporate news, Bank of America (BAC) reported stronger-than-expected Q3 results, buoyed by investment banking and asset management fees. Its shares climbed 4.3%.

Progressive's (PGR) Q3 profit rose less than Wall Street's expectations, while the insurance company's combined ratio deteriorated. Its shares fell 5.8%.

Morgan Stanley (MS) shares gained 4.2% after it reported Q3 earnings and revenue above market expectations.

UBS (UBS) has lost a $440 million claim against Japan's SoftBank related to the collapse of Greensill Capital in 2021, the Financial Times reported. UBS shares were down 2.3%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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UBS shares were down 2.3%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XLF","symbol_name":"金融ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2575562756","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2575562756","pubTimestamp":1760558333,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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