Sector Update: Financial

01:22 PM EDT, 08/28/2026 (MT Newswires) -- Financial stocks advanced in Friday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.4%. The Philadelphia Housing Index was decreasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.6%. Bitcoin (BTC-USD) was falling 3.1% to $77,812, and the yield for 10-year US Treasuries was rising 5.6 basis points to 4.728%. In economic news, Federal Reserve Chair Kevin Warsh said Friday that the central bank's primary focus should be on prices, given that the US is doing well on the employment front. Delivering his debut Jackson Hole speech as Fed chief, Warsh said inflation numbers were concerning. "The comparable measures from the consumer price index are also elevated, as are the core measures of both PCE and CPI inflation," Warsh said. "None of these measures are perfect, but they all tell a similar story: Inflation is running above our 2% target. So the Fed's predominant focus right now should be on prices." In corporate news, PayPal (PYPL) shares fell past 12% after Bloomberg reported Friday that Advent and Stripe have abandoned their $50 billion bid to buy the company.