Sector Update: Financial Stocks Softer in Afternoon Trading

01:52 PM EST, 11/03/2026 (MT Newswires) -- Financial stocks were lower in Tuesday afternoon trading, with the NYSE Financial Index decreasing 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.5%. The Philadelphia Housing Index was falling 2.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.1%. Bitcoin (BTC-USD) was increasing 0.9% to $77,596, and the yield for 10-year US Treasuries was rising 6 basis points to 4.95%. In sector news, investors will be closely watching the US midterm elections, as the outcome may reshape expectations for taxation, government spending and regulation over the next two years. All 435 seats in the House of Representatives, along with 35 of the Senate's 100 seats, are up for election. Millennium Management is withdrawing more than $1.5 billion in leveraged capital from two external hedge funds, including more than $1 billion from Troluce Capital Advisors and $500 million from Axebrook Capital, Bloomberg reported. The withdrawals were driven by losses at both firms, the report said. In economic news, US job openings rose to 7.523 million in September, according to the Bureau of Labor Statistics, above the 7.164 million openings expected in a survey compiled by Bloomberg and up from the 7.190 million openings reported in August. New orders for US factory goods increased by 1.8% in September, compared with expectations for a smaller 1.2% increase in a survey compiled by Bloomberg and following a revised 0.3% increase in August. In corporate news, Apollo Global Management (APO) shares fell 4.4% after the company reported Q3 adjusted net income Tuesday of $2.07 per share, down from $2.17 a year earlier. Analysts polled by FactSet expected $2.19. Revenue for the quarter was $4.74 billion, down from $9.82 billion a year earlier. Morgan Stanley (MS) has launched a $2.3 billion debt offering to help finance the acquisition of Baldwin Insurance by Michael Dell's family office and Sequence, Bloomberg reported. Morgan Stanley shares were up 0.3%. Fiserv (FISV) shares jumped 13% after the company reported Q3 adjusted earnings and revenue that topped analysts' estimates.