Sector Update: Financial

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Sector Update: Financial

, MT Newswires - 3:29 PM ET 3/28/2025 default

03:29 PM EDT, 03/28/2025 (MT Newswires) -- Financial stocks were lower in late Friday afternoon trading, with the NYSE Financial Index shedding 1.7% and the Financial Select Sector SPDR Fund (XLF) dropping 2%.

The Philadelphia Housing Index was retreating 2.7%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.2%.

Bitcoin (BTC-USD) was falling 3.8% to $83,740, and the yield for 10-year US Treasuries was dropping 11 basis points to 4.26%.

In economic news, February's core personal consumption expenditures price index, which excludes food and energy, accelerated to 2.8%, the Bureau of Economic Analysis said on Friday. The growth was higher than the previous month's 2.7% increase, which is the Bloomberg consensus for February.

The University of Michigan consumer sentiment index was revised lower to 57 for March from 57.9 in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg.

In corporate news, W. R. Berkley ( WRB ) shares jumped 7.2%. The company said Mitsui Sumitomo Insurance has agreed to buy 15% of its stock via open market purchases or private deals with third parties.

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