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Sector Update: Financial Stocks Advance Late Afternoon
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Sector Update: Financial Stocks Advance Late Afternoon
Jul 24, 2026 1:22 PM

03:52 PM EDT, 07/24/2026 (MT Newswires) -- Financial stocks rose in late Friday afternoon trading, with the NYSE Financial Index adding 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) increasing 0.7%.

The Philadelphia Housing Index gained 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 2.3%.

Bitcoin (BTC-USD) was declining 1.5% to $64,087, and the yield for 10-year US Treasuries shed 2.4 basis points to 4.679%.

In economic news, the July flash reading of manufacturing conditions from S&P Global slipped to 53.8 from 53.9 in June, compared with the 54.4 print expected in a survey compiled by Bloomberg.

New-home sales rose to a 628,000 annual rate in June from an upwardly revised 618,000 rate in May, compared with the 607,000 rate expected in a survey compiled by Bloomberg. Home sales were still down 5.6% from a year ago.

In corporate news, Digital Realty Trust ( DLR ) reported Q2 core funds from operations and operating revenue above market expectations late Thursday, and the company also raised its 2026 core FFO and revenue guidance. Shares surged past 11%.

BlackRock ( BLK ) started marketing $12.3 billion in high-grade bonds to finance a Meta Platforms (META) data center project, Bloomberg reported. BlackRock ( BLK ) shares rose 1.7%.

American Express' ( AXP ) Q2 earnings topped Wall Street's estimates, but revenue missed expectations, while the company now expects full-year revenue to grow at the high end of its previous guidance range. Its shares fell 4.6%.

Tompkins Financial ( TMP ) shares jumped past 8% after it reported better-than-expected Q2 results.

Safety Insurance ( SAFT ) shares soared 42%. The company said late Thursday it entered an agreement to be acquired by an affiliate of Mapfre in a $1.54 billion all-cash deal.

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