03:24 PM EDT, 05/09/2024 (MT Newswires) -- Financial stocks were higher in late Thursday afternoon trading, with the NYSE Financial Index up 0.5% and the Financial Select Sector SPDR Fund (XLF) rising 0.6%.

The Philadelphia Housing Index climbed 1.3%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 2.2%.

Bitcoin (BTC-USD) was rising 1.8% to $62,281, and the yield for 10-year US Treasuries fell 4 basis points to 4.45%.

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, HSBC ( HSBC ) and Standard Chartered are among the banks urging UK Prime Minister Rishi Sunak and his government to ease proposed restrictions on doing business with China, Bloomberg reported. HSBC ( HSBC ) shares were shedding 0.8%.