03:26 PM EDT, 08/07/2024 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index adding 0.3% and the Financial Select Sector SPDR Fund (XLF) ahead 0.4%.

The Philadelphia Housing Index fell 1.8%, while the Real Estate Select Sector SPDR Fund (XLRE) dropped 0.2%.

Bitcoin (BTC-USD) declined 1.8% to $55,071, and the yield for 10-year US Treasuries rose 8 basis points to 3.97%.

In economic news, mortgage application volume rebounded to the highest since January after two consecutive weeks of declines, boosted by higher refinance activity and lower rates across all loan types, the Mortgage Bankers Association said.

In corporate news, Jefferies Financial Group ( JEF ) filed a motion seeking an independent review to determine if Weiss Multi-Strategy Advisers made any "additional, potentially voidable payments" to insiders two years before filing for bankruptcy. Jefferies shares were little changed.