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Sector Update: Financial Stocks Mixed Wednesday Afternoon
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Sector Update: Financial Stocks Mixed Wednesday Afternoon
Jul 30, 2025 11:05 AM

01:41 PM EDT, 07/30/2025 (MT Newswires) -- Financial stocks were mixed in Wednesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) adding 0.3%.

The Philadelphia Housing Index was shedding 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.4%.

Bitcoin (BTC-USD) was easing 0.1% at $117,762, and the yield for 10-year US Treasuries was rising 3.2 basis points to 4.36%.

In economic news, US GDP grew 3% in the advance estimate for Q2, above the 2.6% increase expected in a Bloomberg survey, and followed a 0.5% decline in Q1, the US Bureau of Economic Analysis said Wednesday.

Private employment rose by 104,000 jobs in July, ADP's data showed. The consensus was for an increase of 76,000 in a Bloomberg compilation. Job losses stood at 23,000 in June, revised lower from ADP's initial estimate for a 33,000 decline.

In corporate news, Visa (V) shares added 0.7% after the company reported stronger-than-expected fiscal Q3 results.

Harley-Davidson (HOG) agreed to divest an interest and over $5 billion of loans in its financial services unit under a partnership with KKR (KKR) and PIMCO. KKR shares rose 0.5%, and Harley jumped past 15%.

HSBC ( HSBC ) said that HSBC Private Bank Suisse is being investigated by Swiss and French law enforcement authorities for alleged money laundering in connection with "two historical banking relationships." Separately, HSBC ( HSBC ) reported a decline in H1 revenue. HSBC ( HSBC ) shares were falling 5.2%.

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