01:53 PM EST, 01/30/2025 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) up 1.4%.

The Philadelphia Housing Index was climbing 2.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 2%.

Bitcoin (BTC-USD) was up 2.4% at $105,271, and the yield for 10-year US Treasuries was shedding 3.1 basis points to 4.52%.

In economic news, US GDP rose by 2.3% in the advance estimate for Q4, below a 2.6% gain expected in a survey compiled by Bloomberg and slower than a 3.1% growth in Q3.

US initial jobless claims fell to 207,000 in the week ended Jan. 25 from 223,000 in the previous week, compared with expectations for 225,000 in a survey compiled by Bloomberg.

In corporate news, Mastercard ( MA ) reported better-than-expected Q4 results amid robust consumer spending, while growth in the value of transactions processed on its platform accelerated year over year. Its shares popped 4%.

Flagstar Financial ( FLG/PA ) shares jumped 15% after it reported a Q4 adjusted loss of $0.34 per share, narrowing from a loss of $0.80 a year earlier.

Cullen/Frost Bankers ( CFR ) shares rose 4.3% after it reported Q4 earnings of $2.36 per share, up from $1.55 a year earlier.