01:40 PM EDT, 05/03/2024 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.5% and the Financial Select Sector SPDR Fund (XLF) ahead 0.4%.

The Philadelphia Housing Index was climbing 1.8% and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.6%.

Bitcoin (BTC-USD) was increasing 4.7% to $61,908, and the yield for 10-year US Treasuries was dropping 6 basis points to 4.52%.

In economic news, nonfarm payrolls rose 175,000 in April, slower than revised 315,000 previously and below a consensus for a 240,000 increase, while the unemployment rate rose to 3.9% from 3.8%. The consensus was for no change in jobless rate.

The Institute for Supply Management's US services index fell to 49.4 in April from 51.4 in March, compared with expectations for an increase to 52 in a survey compiled by Bloomberg.

In corporate news, Banco Sabadell is favoring the beginning of takeover talks with Banco Bilbao Vizcaya Argentaria ( BBVA ) , Bloomberg reported Friday. BBVA shares rose 1.4%.