03:27 PM EDT, 07/16/2024 (MT Newswires) -- Financial stocks rose in late Tuesday afternoon trading with the NYSE Financial Index climbing 1.1% and the Financial Select Sector SPDR Fund (XLF) gaining 1%.

The Philadelphia Housing Index jumped 5.1%, and the Real Estate Select Sector SPDR Fund (XLRE) advanced 0.8%.

Bitcoin (BTC-USD) increased 0.2% to $64,891, and the yield for 10-year US Treasuries dropped 6 basis points to 4.17%.

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.

In corporate news, ServisFirst Bancshares ( SFBS ) shares surged 12% as Piper Sandler lifted its price target on the stock to $70 from $63, while keeping the neutral rating, a day after the bank reported higher Q2 revenue.