01:32 PM EDT, 06/12/2024 (MT Newswires) -- Financial stocks advanced in Wednesday afternoon trading with the NYSE Financial Index rising 1.1% and the Financial Select Sector SPDR Fund (XLF) up 0.5%.

The Philadelphia Housing Index jumped 3.9%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 1.7%.

Bitcoin (BTC-USD) rose 3.4% to $69,569, and the yield for 10-year US Treasuries tumbled 15 basis points to 4.26%.

In economic news, the US seasonally adjusted consumer price index held steady in May, below the 0.1% gain expected in a survey compiled by Bloomberg as of 7:35 am ET and following a 0.3% increase in April, Bureau of Labor Statistics data showed. The year-over-year rates for overall and core CPI slowed to 3.3% and 3.4%, respectively, from 3.4% and 3.6% in the previous month.

The Federal Open Market Committee's interest-rate-setting meeting will release its June policy statement on Wednesday.

In corporate news, BlackRock's ( BLK ) private-debt arm is eyeing opportunities to attract investment from insurance firms seeking to expand exposure to the asset class, Bloomberg reported, citing the firm's global head of private debt. BlackRock ( BLK ) shares gained 2.2%.