03:32 PM EDT, 10/09/2024 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) increasing 0.8%.

The Philadelphia Housing Index eased 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.3%.

Bitcoin (BTC-USD) fell 1.8% to $63,126, and the yield for 10-year US Treasuries gained 3 basis points to 4.06%.

In economic news, wholesale inventories rose 0.1% in August, revised down from a 0.2% gain in the advance reading and following a 0.2% increase in July. Analysts in a survey compiled by Bloomberg expected August inventories to be unrevised from the advance estimate.

Mortgage applications fell 5.1% in the week ended Friday as the strong September employment report drove mortgage rates to the highest level since August, according to data released by the Mortgage Bankers Association.

In corporate news, BlackRock (BLK) threw its hat in the ring for a potential purchase of HPS Investment Partners, Bloomberg reported Wednesday. BlackRock shares added 0.1%.