01:34 PM EDT, 07/26/2024 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1.6% and the Financial Select Sector SPDR Fund (XLF) ahead 1.8%.

The Philadelphia Housing Index was climbing 3.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 1.7%.

Bitcoin (BTC-USD) was gaining 5% to $67,439, and the yield for 10-year US Treasuries was dropping 4.8 basis points to 4.21%.

In economic news, the pace of US consumer spending growth eased in June while the Federal Reserve's preferred inflation metric held steady on an annual basis, government data showed Friday.

In regulatory news, the US Securities and Exchange Commission said Friday it has charged short seller Andrew Left and his firm Citron Capital for allegedly engaging in a $20 million fraud scheme through false and misleading stock trading recommendations.

In corporate news, WesBanco ( WSBC ) and Premier Financial (PFC) entered into an all-stock merger deal, with WesBanco ( WSBC ) as the surviving entity. The deal, valued at about $959 million, is expected to close in Q1 2025. WesBanco ( WSBC ) shares tumbled 5.1% while Premier Financial added 2.1%.