03:23 PM EDT, 07/12/2024 (MT Newswires) -- Financial stocks were higher in late Friday afternoon trading, with the NYSE Financial Index adding 0.8% and the Financial Select Sector SPDR Fund (XLF) up 0.7%.

The Philadelphia Housing Index climbed 2.1%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 1.2%.

Bitcoin (BTC-USD) gained 1.4% to $58,166, and the yield for 10-year US Treasuries was little changed at 4.19%.

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 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, Arbor Realty Trust ( ABR ) shares sank more than 16% as Bloomberg reported Friday the company faces a probe by the FBI and federal prosecutors on lending practices and claims about the performance of its loan book.