01:36 PM EDT, 08/14/2024 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund (XLF) ahead 1%.

The Philadelphia Housing Index was shedding 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.5%.

Bitcoin (BTC-USD) was declining 3.5% to $59,222, and the yield for 10-year US Treasuries was decreasing 2.3 basis points to 3.83%.

In economic news, the US seasonally adjusted consumer price index rose 0.2% in July, as expected in a survey compiled by Bloomberg, following a 0.1% drop in June, the Bureau of Labor Statistics reported Wednesday.

Mortgage applications rallied last week to the highest level since January 2023 driven by a surge in refinance activity, the Mortgage Bankers Association said Wednesday.

In corporate news, Atlantic American ( AAME ) shares jumped 5.3% after the company reported its Q2 results.