Sector Update: Financial Stocks Edge Higher Late Afternoon

03:41 PM EDT, 10/16/2026 (MT Newswires) -- Financial stocks were slightly higher in late Friday afternoon trading, with the NYSE Financial Index up 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally higher. The Philadelphia Housing Index was easing 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.2%. Bitcoin (BTC-USD) was declining 1.1% to $81,287, and the yield for 10-year US Treasuries fell 1 basis point to 5.10%. In economic news, US industrial production increased more than expected in September as manufacturing output rebounded despite weakness in the auto component, Federal Reserve data showed Friday. Industrial output grew 0.7% last month, following a revised 0.1% gain for August, according to the Fed. The consensus was for a smaller 0.4% increase in September in a survey compiled by Bloomberg. In corporate news, a San Francisco judge granted Wells Fargo's (WFC) request to dismiss the lawsuit of former Chief Executive Tim Sloan, who was seeking $34 million in compensation he claimed he was cheated out of, Bloomberg reported. Wells Fargo shares were up 0.9%. Circle (CRCL) is gearing up to enter around 40 emerging and developing nations with blockchain adoption anticipated to grow, Reuters reported, citing CEO and Chairman Jeremy Allaire. Organic demand for stablecoins is increasing in Southeast Asia, Latin America, Africa and the Middle East, Allaire told the media outlet at the sidelines of the IMF and World Bank meetings in Bangkok. Circle shares were down past 6%. Travelers' (TRV) Q3 earnings and net written premiums unexpectedly increased year over year, although the property and casualty insurer incurred higher catastrophe losses. Its shares rose 1.5%. NatWest's (NWG) NatWest Markets Securities has withdrawn its name from the list of primary dealers, effective Friday, the Federal Reserve Bank of New York said Friday. Primary dealers act as trading counterparties to the New York Fed in its implementation of monetary policy. NatWest shares were up 0.2%.