01:32 PM EDT, 07/12/2024 (MT Newswires) -- Financial stocks advanced in Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both up 0.7%.

The Philadelphia Housing Index climbed 2.1%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 1%.

Bitcoin (BTC-USD) rose 1.5% to $58,174, and the yield for 10-year US Treasuries little changed at 4.20%.

In economic news, the US producer price index rose 0.2% in June following a revised steady reading in May, above the 0.1% gain expected in a survey compiled by Bloomberg.

The University of Michigan's preliminary consumer sentiment index declined to 66.0 in July from 68.2 in June, compared with expectations for an increase to 68.5 in a survey compiled by Bloomberg.

In corporate news, Wells Fargo's ( WFC ) Q2 earnings topped market expectations, but the lender's net interest income declined from a year earlier, trailing estimates by analysts. The bank's shares tumbled 5.6%.