Sector Update: Financial Stocks Advance Late Afternoon

04:06 PM EDT, 10/08/2026 (MT Newswires) -- Financial stocks were rising in late Thursday afternoon trading, with the NYSE Financial Index up 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.8%. The Philadelphia Housing Index climbed 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.7%. Bitcoin (BTC-USD) was falling 1.9% to $81,730, and the yield for 10-year US Treasuries decreased 5 basis points to 5.23%. In economic news, the US central bank will likely have to raise interest rates further to bring inflation back to the 2% target faster, assuming there are no surprises in upcoming economic data, US Federal Reserve Governor Christopher Waller said Thursday. However, he said the timing of any additional policy tightening is flexible. Most Fed officials expected another rate hike by year-end to curb inflation, though they vowed to base their future policy decisions on fresh data, according to minutes from the central bank's September meeting released Wednesday. US initial jobless claims fell sequentially to 197,000 in the week ended Oct. 3 from an upwardly revised 199,000, compared with expectations for 200,000 in a Bloomberg-compiled survey. The four-week moving average fell to 198,000 after decreasing to 200,500 in the previous week, marking a fifth straight weekly decline. In sector news, Revolut CEO Nik Storonsky said he wants his company to hold a primary listing in the US if it chooses to pursue a public offering, Bloomberg reported, citing an interview with the CEO. In corporate news, Apollo Global Management's (APO) 5.7 billion British pounds ($7.53 billion) takeover of EasyJet is set for completion in early 2027, Bloomberg reported, citing EasyJet CEO Kenton Jarvis. Apollo shares were down 0.2%. Chime Financial (CHYM) shares rose 3.4% after Deutsche Bank upgraded the stock to buy from hold, with a price target of $35 per share. Goldman Sachs (GS) is preparing more than $500 million in equity awards to about 20 senior executives, Bloomberg reported. Chief Executive David Solomon is expected to receive over $100 million, the report said. Goldman shares were down 0.7%. Better Home & Finance (BETR) said Thursday its board has approved the repurchase of up to $30 million of its Class A shares. The company said it will start repurchases with an initial $10 million phase. Better Home said it plans to align the pace of the buybacks with operational cost savings and asset disposals like the planned sale of its UK bank subsidiary. Its shares added 2.1%.