01:39 PM EDT, 07/16/2024 (MT Newswires) -- Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.9% and the Financial Select Sector SPDR Fund (XLF) ahead 0.7%.

The Philadelphia Housing Index was climbing 4%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.5%.

Bitcoin (BTC-USD) was rising 1.3% to $64,332, and the yield for 10-year US Treasuries was dropping 4.7 basis points to 4.18%.

In economic news, US retail sales held steady last month versus market views for a decline, as spending growth in most major categories helped offset declines in the gas station and motor vehicle components, Census Bureau data showed Tuesday.

In corporate news, Morgan Stanley's ( MS ) Q2 results gained year over year and topped market expectations, buoyed by a 51% jump in investment banking revenue. Its shares rose 1.7%.