01:45 PM EDT, 07/17/2024 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.2% and the Financial Select Sector SPDR Fund (XLF) ahead 0.5%.

The Philadelphia Housing Index was falling 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.4%.

Bitcoin (BTC-USD) was declining 0.2% to $64,359, and the yield for 10-year US Treasuries was down 1 basis point to 4.16%.

In economic news, US industrial production rose 0.6% in June, above expectations for a 0.3% increase in a survey compiled by Bloomberg, and following an upwardly revised 0.9% increase in May.

June housing starts rose by 3% from the previous month to a 1.353 million annual rate after a decrease to a 1.314 million pace in May.

Mortgage Bankers Association data showed that mortgage applications rose by 3.9% in the week ended July 12 after a 0.2% decline in the previous week as 30-year fixed mortgage rates declined to their lowest level since March.

In corporate news, Prologis ( PLD ) exceeded estimates for Q2 core funds from operations on Wednesday while it raised the middle point of its full-year core FFO guidance. Its shares added 0.6%.