01:42 PM EDT, 09/27/2024 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index increasing 0.2% and the Financial Select Sector SPDR Fund (XLF) adding 0.4%.

The Philadelphia Housing Index was climbing 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.4%.

Bitcoin (BTC-USD) was increasing 1.1% to $65,882, and the yield for 10-year US Treasuries was dropping 4 basis points to 3.75%.

In economic news, the personal consumption expenditures, or PCE, price index rose 0.1% in August, right on expectations, slowing the year-over-year rate to 2.2% from 2.5% in July.

The core PCE, which excludes the more volatile food and energy prices, also increased 0.1%, below the 0.2% increase expected and following a 0.2% gain in July.

The University of Michigan consumer sentiment index was revised upward to 70.1 for September from 69 in the preliminary estimate, compared with expectations for 69.4 in a survey compiled by Bloomberg.

In corporate news, Carlyle-backed (CG) StandardAero plans to raise up to $1.38 billion in an upsized initial public offering, the company said in a regulatory filing. Carlyle shares rose 1.6%.