01:29 PM EDT, 05/08/2024 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index edging up 0.1% and the Financial Select Sector SPDR Fund (XLF) ahead 0.2%.

The Philadelphia Housing Index was down 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.9%.

In economic news, wholesale inventories fell by 0.4% in March, unrevised from the advance reading, as expected in a survey compiled by Bloomberg and following a 0.2% gain in February.

In corporate news, Payoneer Global ( PAYO ) reported Q1 earnings of $0.08 per share, up from $0.02 a year earlier. Analysts polled by Capital IQ expected $0.05. Its shares jumped 11%.