03:26 PM EDT, 04/17/2024 (MT Newswires) -- Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index adding 0.2% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index was decreasing 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.4%.

Bitcoin (BTC-USD) fell 2.8% to $61,055, and the yield for 10-year US Treasuries was dropping 6.8 basis points to 4.59%.

In economic news, mortgage applications rose for the second consecutive week, driven by purchasing activity, even though rates increased across all loan types, the Mortgage Bankers Association said Wednesday. The market composite index gained 3.3% for the week ended April 12 on a seasonally adjusted basis. That's after a 0.1% increase the week before.

In corporate news, Morgan Stanley ( MS ) is looking to raise $8 billion via multiple bond offerings to raise funds for general corporate purposes, Bloomberg reported Wednesday. Morgan Stanley ( MS ) shares rose 0.9%.