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Sector Update: Financial Stocks Softer Late Afternoon

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Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) shedding 0.4%.

The Philadelphia Housing Index was falling 2.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.6%.

Bitcoin (BTC-USD) was down 0.4% to $64,368, and the yield for 10-year US Treasuries rose 5.5 basis points to 4.672%.

In economic news, small businesses reported that the level of worker shortages was higher in July, with a seasonally adjusted 36% of respondents in a National Federation of Independent Business survey released Thursday saying they were having trouble hiring the workers that they needed, up from 32% in the previous month and the highest since June 2025. The NFIB's Small Business Employment Index rose to 102.1 in July from 100.2 in June, still above the historical average of 100.0 and the 2025 average of 101.2.

In corporate news, Apollo Global Management's (APO) Eagle Bidco and EasyJet have reached an agreement under which the Apollo fund will buy the airline for 7.15 British pounds ($9.63) per share in cash, according to a regulatory filing with the London Stock Exchange. Apollo shares were shedding 1.7%.

Blackstone (BX) and Apollo Global Management were among a group of prominent financial institutions and private equity firms targeted by ransom-seeking hackers over the past month, Reuters reported, citing Alphabet's (GOOGL) Google and internet intelligence data it reviewed. Blackstone shares were falling 2.1%.

Chime Financial (CHYM) shares surged 22% after the company swung to a Q2 profit, exceeded revenue expectations, and raised 2026 guidance.

JPMorgan Chase (JPM) underwent a federal probe this year as prosecutors looked into claims the lender ignored deficiencies in its anti-fraud program and improperly denied more than $100 million in reimbursements for stolen money, The Wall Street Journal reported. JPMorgan shares declined 0.8%.

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