Sector Update: Financial

01:16 PM EST, 11/04/2026 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 3.2% and the State Street Financial Select Sector SPDR ETF (XLF) adding 3%. The Philadelphia Housing Index popped 6.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was up 2.9%. Bitcoin (BTC-USD) was increasing 4.2% to $80,607, and the yield for 10-year US Treasuries was shedding 4.6 basis points to 4.904%. In sector news, US equity indexes jumped amid a broad-based rally after Democrats swept both chambers of Congress in the midterm elections. President Donald Trump said he'll work with the Democratic-controlled Congress and not spend the next two years "vetoing everything," CNN reported, after the midterm elections shifted power to the Democrats, with the party taking control of both the Senate and the House. In corporate news, UBS (UBS) has cut about 200 positions in London in recent weeks as it nears completion of its integration of Credit Suisse, Bloomberg reported. The job reductions affected multiple divisions, including wealth management and investment banking, the report said. UBS shares were up 5.7%.