01:39 PM EDT, 08/08/2024 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index rising 1.2% and the Financial Select Sector SPDR Fund (XLF) ahead 1.5%.

The Philadelphia Housing Index was climbing 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.9%.

Bitcoin (BTC-USD) jumped 6.8% to $59,630, and the yield for 10-year US Treasuries was rising 4.3 basis points to 4.01%.

In economic news, US initial jobless claims fell by 17,000 to 233,000 in the week ended Aug. 3 from an upwardly revised 250,000 level in the previous week, compared with expectations for a smaller decrease to 240,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Siebert Financial ( SIEB ) shares popped 4.5%. The company said Thursday it has extended its reach into music, entertainment and media with its acquisition of Gebbia Entertainment.