01:37 PM EDT, 05/29/2025 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index adding 0.3% and the Financial Select Sector SPDR Fund (XLF) up 0.1%.

The Philadelphia Housing Index rose 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.5%.

Bitcoin (BTC-USD) was declining 1.1% to $106,730, and the yield for 10-year US Treasuries was dropping 6 basis points to 4.42%.

In economic news, a US federal court ruling challenging a series of tariffs imposed by President Donald Trump likely weakens Washington's position in trade talks, but the administration has other tools to push through the tariffs agenda, analysts said Thursday. The Court of International Trade ruled Wednesday that Trump overstepped his authority by imposing duties under the International Emergency Economic Powers Act. The Trump administration has appealed the ruling, according to media reports.

In corporate news, JPMorgan Chase ( JPM ) named former HSBC (HSBC) dealmaker Kamal Jabre as new M&A vice chair to drive growth in Europe, the Middle East and Africa, Reuters reported Thursday. JPMorgan ( JPM ) shares were flat, and HSBC was up 0.8%.