Sector Update: Financial Stocks Decline Late Afternoon

03:48 PM EST, 11/03/2026 (MT Newswires) -- Financial stocks were lower in late Tuesday afternoon trading, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each decreasing 0.6%. The Philadelphia Housing Index was falling 2.9%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) eased 0.3%. Bitcoin (BTC-USD) was increasing 1.2% to $77,573, and the yield for 10-year US Treasuries rose 5.8 basis points to 4.952%. 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. 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 4.9% 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. Apollo plans to spend around $350 million over the next 24 months to enhance the private credit trading sector by increasing price transparency, according to a transcript of the company's Q3 earnings call. Barclays (BCS) is running the sale process for up to $1 billion of Exeter Finance's nonprime auto loans, Bloomberg reported. The portfolio of the Warburg Pincus-owned company attracted bids at a premium to the face value of the loans, the report said. Barclays shares were down 0.9%. 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 0.2%. Fiserv (FISV) shares jumped past 12% after the company reported Q3 adjusted earnings and revenue that topped analysts' estimates.