03:24 PM EDT, 08/06/2024 (MT Newswires) -- Financial stocks were advancing in late Tuesday afternoon trading, with the NYSE Financial Index rising 1.7% and the Financial Select Sector SPDR Fund (XLF) climbing 2.3%.

The Philadelphia Housing Index added 1.4%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 3%.

Bitcoin (BTC-USD) jumped 4.6% to $56,437, and the yield for 10-year US Treasuries spiked 10 basis points to 3.89%.

In economic news, the US international trade deficit narrowed to $73.11 billion in June from a $75.01 billion gap in May, compared with the $72.5 billion shortfall expected in a survey compiled by Bloomberg.

In corporate news, Apollo Global Management ( APO ) shares jumped 6% after BofA Securities upgraded its rating on the stock to buy from neutral, while lowering price target to $123 from $124.