Sector Update: Financial Stocks Advance Late Afternoon
MT newswire2026/10/08 20:0604:06 PM EDT, 10/08/2026 (MT Newswires) -- Financial stocks were rising in late Thursday afternoon trading, with the NYSE Financial Index up 0.3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.8%. The Philadelphia Housing Index climbed 1.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) increased 0.7%. Bitcoin (BTC-USD) was falling 1.9% to $81,730, and the yield for 10-year US Treasuries decreased 5 basis points to 5.23%. In economic news, the US central bank will likely have to raise interest rates further to bring inflation back to the 2% target faster, assuming there are no surprises in upcoming economic data, US Federal Reserve Governor Christopher Waller said Thursday. However, he said the timing of any additional policy tightening is flexible. Most Fed officials expected another rate hike by year-end to curb inflation, though they vowed to base their future policy decisions on fresh data, according to minutes from the central bank's September meeting released Wednesday. US initial jobless claims fell sequentially to 197,000 in the week ended Oct. 3 from an upwardly revised 199,000, compared with expectations for 200,000 in a Bloomberg-compiled survey. The four-week moving average fell to 198,000 after decreasing to 200,500 in the previous week, marking a fifth straight weekly decline. In sector news, Revolut CEO Nik Storonsky said he wants his company to hold a primary listing in the US if it chooses to pursue a public offering, Bloomberg reported, citing an interview with the CEO. In corporate news, Apollo Global Management's (APO) 5.7 billion British pounds ($7.53 billion) takeover of EasyJet is set for completion in early 2027, Bloomberg reported, citing EasyJet CEO Kenton Jarvis. Apollo shares were down 0.2%. Chime Financial (CHYM) shares rose 3.4% after Deutsche Bank upgraded the stock to buy from hold, with a price target of $35 per share. Goldman Sachs (GS) is preparing more than $500 million in equity awards to about 20 senior executives, Bloomberg reported. Ch
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October 9 - Delta Air Lines (DAL.N) shares fell nearly 5% in pre-market trading to $78.12. Due to a surge in jet fuel prices, Delta Air Lines (DAL) on Friday lowered its full-year adjusted profit forecast. The U.S. airline now expects adjusted earnings per share in 2026 to be between $5.10 and $5.60, down from the previous guidance of $6.5 to $7.5 per share. The current midpoint of $5.35 per share is lower than analysts’ expectations of $5.46 per share. DAL expects its annual fuel costs to rise by about $6.0 billion, compared to an earlier projection of a $4.0 billion increase. Analysts tracking DAL have given it an average “Buy” rating, according to data compiled by LSEG. So far this year, Delta Air Lines stock has risen 18.4%, the highest increase among major U.S. competitors. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translations may contain errors or lack the necessary context, Reuters does not guarantee the accuracy of automated translation texts, which are provided solely for readers’ convenience. Reuters assumes no responsibility for any damage or loss resulting from the use of automated translation services.)
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BUZZ-TD Cowen lowers its target price for UnitedHealth Group ahead of third-quarter earnings release
On October 9, TD Cowen lowered its price target for UnitedHealth Group (UNH.N) from $430 to $402 ahead of the company's third-quarter earnings report on October 13. The brokerage stated that the widely expected third-quarter medical cost ratio of 89.9% and earnings per share of $4.12 are "well within reach." The report pointed out that recently announced Medicare star ratings have fallen as anticipated, which is expected to create a $1.5 billion revenue headwind in 2028. The new price target represents a 6.9% upside from the stock's previous closing price. "We also expect management to comment on preliminary expectations for 2027 Medicare Advantage (MA) enrollment growth and may emphasize a focus on margins over enrollment growth," the brokerage added. Earnings forecasts remain unchanged, but a lowered valuation multiple led to the reduction in price target. Among 29 brokerages, 23 rate the stock a "buy" or higher, while 6 rate it "hold"; the median price target is $483.82, according to LSEG data. As of the previous close, the stock is up 12.3% year-to-date.
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