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Sector Update: Financial

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Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.6%.

The Philadelphia Housing Index was up 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.1%.

Bitcoin (BTC-USD) was increasing 0.4% to $65,844, and the yield for 10-year US Treasuries was steady around 4.428%.

In corporate news, JPMorgan Chase's (JPM) asset management division is advising investors to hold on to stocks and other higher-risk assets in H2, saying that AI investments should keep the markets rising despite higher inflation and a Federal Reserve that continues to maintain rates, Bloomberg reported. JPMorgan shares were up 1.6%.

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Sector Update: Financial Stocks Rise Late Afternoon

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