Sector Update: Financial
MT newswire2026/10/08 19:4203:42 PM EDT, 10/08/2026 (MT Newswires) -- Financial stocks were rising in late Thursday afternoon trading, with the NYSE Financial Index up 0.6% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.9%. The Philadelphia Housing Index climbed 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.7%. Bitcoin (BTC-USD) was falling 1.8% to $81,740, and the yield for 10-year US Treasuries decreased 5 basis points to 5.23%. In economic news, the US central bank will likely have to raise interest rates further to bring inflation back to the 2% target faster, assuming there are no surprises in upcoming economic data, US Federal Reserve Governor Christopher Waller said Thursday. However, he said the timing of any additional policy tightening is flexible. Most Fed officials expected another rate hike by year-end to curb inflation, though they vowed to base their future policy decisions on fresh data, according to minutes from the central bank's September meeting released Wednesday. In corporate news, Chime Financial (CHYM) shares rose 2.8% after Deutsche Bank upgraded the stock to buy from hold, with a price target of $35 per share.
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