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Sector Update: Financial Stocks Softer Late Afternoon
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Sector Update: Financial Stocks Softer Late Afternoon
Jun 10, 2026 12:51 PM

03:39 PM EDT, 06/10/2026 (MT Newswires) -- Financial stocks were lower in late Wednesday afternoon trading, with the NYSE Financial Index down 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) decreasing 0.2%.

The Philadelphia Housing Index fell 2.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.2%.

Bitcoin (BTC-USD) was fractionally lower at $61,685, and the yield for 10-year US Treasuries rose 1.4 basis points to 4.542%.

In economic news, the US seasonally adjusted consumer price index, a measure of inflation, rose by 0.5% in May, as expected, following a 0.6% increase in April, according to data released Wednesday by the Bureau of Labor Statistics. Core CPI, which excludes food and energy prices, rose by 0.2%, below the consensus estimate for a 0.3% increase. Core CPI rose by 0.4% in April. The year-over-year rates for overall and core CPI increased to 4.2% and 2.9%, respectively, from 3.8% and 2.8% in the previous month.

In corporate news, JPMorgan Chase ( JPM ) and Bank of America ( BAC ) are among the major US banks that have received subpoenas from the Justice Department seeking information over whether they "debanked" clients for political reasons, The Wall Street Journal reported. JPMorgan ( JPM ) shares were down 0.4%, and Bank of America ( BAC ) rose 0.7%.

Visa (V) said Wednesday its payment services will be integrated into OpenAI's platform to allow retailers to accept purchases from AI agents. Visa shares were shedding 0.4%.

Nasdaq (NDAQ) Verafin is launching a new set of agentic workers, beginning with the Agentic AML Analyst and the Agentic Fraud Analyst, the firm said. The shares were down 0.8%.

Brookfield Asset Management ( BAM ) is expanding its offerings for wealthy investors in Japan, targeting infrastructure, real estate, and private credit as hedges against inflation, Nikkei reported. Brookfield shares were falling 3.2%.

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