03:25 PM EDT, 05/31/2024 (MT Newswires) -- Financial stocks rose in late Friday afternoon trading with the NYSE Financial Index adding 0.6% and the Financial Select Sector SPDR Fund (XLF) up 0.7%.

The Philadelphia Housing Index gained 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 14%.

Bitcoin (BTC-USD) fell 1.5% to $67,343, and the yield for 10-year US Treasuries dropped 4 basis points to 4.51%.

In economic news, US consumer spending weakened more than expected in April as outlays on goods fell into contraction territory, while inflation held steady at the annual level, government data showed Friday. Personal consumption expenditures growth slowed to 0.2% last month from the downwardly revised 0.7% in March, the Bureau of Economic Analysis said in a report. The latest print fell short of the market consensus for a 0.3% gain, according to a Bloomberg-polled consensus.

In corporate news, MetLife ( MET ) is pursuing an acquisition of Hayfin Capital Management that may value the London-based direct lender at more than 1.2 billion euros ($1.3 billion), Bloomberg reported. MetLife ( MET ) shares climbed 0.7%.