01:29 PM EDT, 04/19/2024 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1% and the Financial Select Sector SPDR Fund (XLF) ahead 1.3%.

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

Bitcoin (BTC-USD) was increasing 1.1% to $64,198, and the yield for 10-year US Treasuries was down 3 basis points to 4.62%.

In economic news, Chicago Fed President Austan Goolsbee said progress made by the Federal Reserve in easing inflationary pressures has "stalled," and it "makes sense" to extend the pause rather than cut interest rates.

In corporate news, American Express' ( AXP ) Q1 results increased on a yearly basis and topped market estimates, while the company reiterated its full-year outlook for earnings and revenue growth. Its shares jumped 5.6%.