Sector Update: Financial

03:40 PM EDT, 09/08/2026 (MT Newswires) -- Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.9% and the State Street Financial Select Sector SPDR ETF (XLF) falling 1.1%. The Philadelphia Housing Index fell 2.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.3%. Bitcoin (BTC-USD) was easing 0.2% to $78,436, and the yield for 10-year US Treasuries rose 2.2 basis points to 4.806%. In corporate news, Pinnacle Financial Partners (PNFP) is positioned to grow faster than peers following its merger with Synovus Financial (SNV), helped by "strong banker hiring," high retention and a broader Southeast footprint, Morgan Stanley said in a note. Morgan Stanley started coverage of Pinnacle with an overweight rating and a $137 price target. Pinnacle shares added 0.4%.