Sector Update: Financial Stocks Decline Late Afternoon

03:56 PM EDT, 10/27/2026 (MT Newswires) -- Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) easing 0.2%. The Philadelphia Housing Index was up 0.1%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) fell 1.1%. Bitcoin (BTC-USD) was increasing 0.6% to $80,507, and the yield for 10-year US Treasuries was slightly higher at 4.993%. In economic news, the Conference Board's measure of consumer confidence rose to 91.7 in October from 84.2 in September, compared with the 81.0 expected in a survey compiled by Bloomberg. In corporate news, Ares Capital (ARCC) will buy MidCap Financial Investment (MFIC) in a stock-and-cash deal with a total enterprise value of around $2.6 billion, the companies said Tuesday. Ares Capital shares were down 0.3%, and MidCap Financial surged 22%. PayPal's (PYPL) Q3 revenue fell short of market estimates, while adjusted earnings unexpectedly rose year over year as the payments company raised its full-year profit outlook. Its shares rose 1.4%. Northpointe Bancshares (NPB) shares rose 3.1% after the company said late Monday its board has authorized a program to buy back up to $30 million of its shares. Apollo Global Management (APO), Blackstone (BX) and TPG (TPG) held preliminary discussions with Universal Music Group about potentially taking the music company private, Bloomberg reported. Apollo shares were up 0.1%, Blackstone was shedding 1.7%, and TPG was slightly lower.