03:29 PM EDT, 05/15/2024 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index adding 0.7% and the Financial Select Sector SPDR Fund (XLF) up 0.5%.

The Philadelphia Housing Index jumped 3.1%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 1.7%.

Bitcoin (BTC-USD) rose 6.9% to $65,807, and the yield for 10-year US Treasuries tumbled 9 basis points to 4.36%.

In economic news, the consumer price index last month advanced 0.3% sequentially, the Bureau of Labor Statistics reported. The pace decelerated from March's 0.4% rate, which was also Wall Street's consensus, according to a Bloomberg-compiled survey. Annually, inflation slowed to 3.4% from 3.5%, in line with analysts' expectations.

US retail sales held steady last month versus market views for a rise as spending gains at gasoline stations and appliance stores helped counter declines in the auto and non-store retailer components, Census Bureau data showed. Sales were flat in April following March's downwardly revised 0.6% rise. Analysts were modeling for a 0.4% increase, according to a consensus survey compiled by Bloomberg.

In corporate news, UBS (UBS) is making changes to the leadership of its asset management division in an attempt to integrate and streamline the unit's product offering while cutting costs, Bloomberg reported Wednesday, citing an internal memo. UBS shares rose 1.5%.