Sector Update: Financial

Last Updated: Wednesday, October 5, 2022 1:29 PM | MT Newswires

Financial stocks were declining in afternoon trading, with the NYSE Financial Index sinking 1.4% while the SPDR Financial Select Sector ETF (XLF) was off 0.7%. The Philadelphia Housing Index was dropping 0.6%, and the SPDR Real Estate Select Sector ETF (XLRE) was slipping 2.3%. In company news, AGNC Investment (AGNC) fell 7.6% after RBC Capital Markets Wednesday cut its price target for the real estate investment trust by $3 to $10 while reiterating its outperform stock rating.

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