01:23 PM EST, 11/27/2024 (MT Newswires) -- Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index up 0.4% and the Financial Select Sector SPDR Fund (XLF) ahead 0.3%.

The Philadelphia Housing Index was marginally higher, and the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.9%.

Bitcoin (BTC-USD) gained 4.2% to $96,497, and the yield for 10-year US Treasuries dropped 7.5 basis points to 4.23%.

In economic news, the personal consumption expenditures price index rose by 0.2% in October, the same as in the previous month and as expected, lifting the year-over-year rate to 2.3% from 2.1% in September. The core PCE price index increased by 0.3%, also in line with the prior month and as expected. The year-over-year rate accelerated to 2.8% from 2.7% in the previous month.

US initial jobless claims declined to 213,000 in the week ended Nov. 23 from an upwardly revised 215,000 level in the previous week, compared with expectations for an increase to 215,000 in a survey compiled by Bloomberg.

US economic growth, measured by gross domestic product, was unrevised at a 2.8% gain in Q3, as expected in a survey compiled by Bloomberg.

In corporate news, BlackRock ( BLK ) , State Street (STT) and Vanguard have been accused by authorities in Texas and nearly a dozen other states of using their investments in coal mining and utility companies to manipulate electricity prices. BlackRock ( BLK ) shares shed 0.5% and State Street was down 0.2%.