03:27 PM EDT, 03/27/2024 (MT Newswires) -- Financial stocks climbed in late Wednesday afternoon trading with the NYSE Financial Index rising 0.7% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%.

The Philadelphia Housing Index rose 1%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 2%.

Bitcoin (BTC-USD) fell 1.8% to $68,757, and the yield for 10-year US Treasuries dropped 4 basis points to 4.20%.

In economic news, wholesale inventories fell 0.2% in January based on annual revisions released by the Census Bureau Wednesday, an improvement from the 0.3% decline previously reported. December wholesale inventories were up 0.5%, an upward adjustment from the 0.4% gain previously reported.

Mortgage applications decreased for the second consecutive week as homebuyers held out for lower interest rates, the Mortgage Bankers Association said Wednesday. The market composite index retreated 0.7% for the week ended March 22 on a seasonally adjusted basis. The move followed a 1.6% fall the week before.

In corporate news, X Financial ( XYF ) shares tumbled 21%, a day after the company reported Q4 non-GAAP adjusted net income fell.