01:34 PM EDT, 05/09/2024 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index adding 0.4% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index gained 1.1% and the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.8%.

Bitcoin (BTC-USD) was down 0.9% to $61,950, and the yield for 10-year US Treasuries fell 2 basis points to 4.47%.

In economic news, the seasonally adjusted number of initial claims advanced by 22,000 to 231,000 in the week ended May 4, the US Department of Labor said. This marked the highest level since the week ended Aug. 26, 2023. The consensus was for a 212,000 level in a Bloomberg survey.

In corporate news, Banco Bilbao Vizcaya Argentaria ( BBVA ) is appealing directly to Banco de Sabadell shareholders with its 12-billion-euro ($12.9 billion) takeover bid after the Sabadell board recently rejected the offer, saying the deal "significantly undervalues" the Spanish lender. BBVA shares were falling past 7%.