Sector Update: Financial

MT newswire2026/08/28 17:22

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01:22 PM EDT, 08/28/2026 (MT Newswires) -- Financial stocks advanced in Friday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) ahead 0.4%. The Philadelphia Housing Index was decreasing 0.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was down 0.6%. Bitcoin (BTC-USD) was falling 3.1% to $77,812, and the yield for 10-year US Treasuries was rising 5.6 basis points to 4.728%. In economic news, Federal Reserve Chair Kevin Warsh said Friday that the central bank's primary focus should be on prices, given that the US is doing well on the employment front. Delivering his debut Jackson Hole speech as Fed chief, Warsh said inflation numbers were concerning. "The comparable measures from the consumer price index are also elevated, as are the core measures of both PCE and CPI inflation," Warsh said. "None of these measures are perfect, but they all tell a similar story: Inflation is running above our 2% target. So the Fed's predominant focus right now should be on prices." In corporate news, PayPal (PYPL) shares fell past 12% after Bloomberg reported Friday that Advent and Stripe have abandoned their $50 billion bid to buy the company.

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According to CME FedWatch: There is a 34.6% probability that the Federal Reserve will keep interest rates unchanged by September, and a 65.4% probability of a cumulative 25 basis points rate hike. By October, there is a 25.4% probability that rates will remain unchanged, a 57.2% chance of a cumulative 25 basis points hike, and a 17.4% chance of a cumulative 50 basis points hike.

智通财经•2026/08/31 22:12

Breaking: Saudi oil tanker intercepted in southern Strait of Hormuz

智通财经•2026/08/31 21:16

The U.S. Energy Information Administration (EIA) has announced that the monthly oil supply report, originally scheduled for release on August 31, will be postponed until September. Relevant authorities stated that the information will be disclosed to the public as soon as the data verification process is completed.

智通财经•2026/08/31 21:06

After Walsh's hawkish remarks, Trump said: "Raising interest rates is absurd. Walsh will do what he must do."

On Monday, Trump said he had great respect for Walsh, stating, "He will do what he needs to do," and added, "In my view, we should be paying interest rates far lower than anywhere else in the world. Raising rates is absurd." Following Walsh's hawkish remarks at the Jackson Hole symposium last Friday, market pricing for a rate hike in September rose to about 60%. Barclays now expects the Federal Reserve to raise rates twice more this year, in September and December, whereas previously, Barclays had predicted no further rate hikes this year.

华尔街见闻•2026/08/31 21:02