03:36 PM EDT, 05/02/2024 (MT Newswires) -- Financial stocks rose in late Thursday afternoon trading with the NYSE Financial Index adding 0.9% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) added 1.5%.

Bitcoin (BTC-USD) rose 1.6% to $59,176, and the yield for 10-year US Treasuries decreased 2 basis points to 4.57%.

In economic news, nonfarm productivity rose 0.3% in Q1 after a 3.5% gain in Q4, data released by the Bureau of Labor Statistics showed. A Bloomberg survey expected a 0.5% gain. Unit labor costs jumped by 4.7% after a flat reading in Q4, above expectations for a 4% increase.

US initial jobless claims were unchanged sequentially in the week ended April 27 from an upwardly revised 208,000, compared with expectations for an increase to 211,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Nomura (NMR) and Mizuho Financial ( MFG ) are facing over $100 million in potential losses tied to several failed stock trades by investment fund All Blue Capital, Bloomberg reported. Nomura was rising 3.4% and Mizuho was up 1.4%.