01:36 PM EDT, 03/12/2025 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising about 0.5%.

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

Bitcoin (BTC-USD) was up 2.4% at $82,756, and the yield for 10-year US Treasuries was rising 2 basis points to 4.31%.

In economic news, data from the Bureau of Labor Statistics showed that consumer price index growth slowed to 0.2% in February from 0.5% in January. Analysts in a Bloomberg-compiled survey expected a 0.3% increase. Annually, inflation cooled to 2.8% from January's 3% pace versus Wall Street's 2.9% expectation.

Mortgage applications climbed for the second week in a row as declining home financing rates propped up refinancing activity, the Mortgage Bankers Association said. The market composite index, which measures loan application volume, moved up 11.2% for the week ended last Friday on a seasonally adjusted basis.

In corporate news, Blackstone (BX) is evaluating options for Hello Sunshine, a Candle Media-owned company, including a potential combination with another studio, Reuters reported. Blackstone shares were rising 3.1%.