03:31 PM EDT, 08/15/2024 (MT Newswires) -- Financial stocks advanced in late Thursday afternoon trading, with the NYSE Financial Index rising 1.2% and the Financial Select Sector SPDR Fund (XLF) adding 1.1%.

The Philadelphia Housing Index rose 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was fractionally higher.

Bitcoin (BTC-USD) was falling 3% to $57,120, and the yield for the 10-year US Treasury jumped 9.7 basis points to 3.92%.

In economic news, US retail sales rose more than expected in July, fueled by gains in spending on cars and electronics, Census Bureau data showed Thursday. Sales rose 1% in July following a downwardly revised 0.2% decline in June. Analysts polled by Bloomberg were expecting a 0.4% increase.

In corporate news, American Express ( AXP ) shares rose 2.4% after it said Thursday the net write-off rate for US consumer card member loans in July was 2.1%, down from 2.3% in June.