01:35 PM EST, 01/16/2025 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each adding 0.3%.

The Philadelphia Housing Index was rising 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.5%.

Bitcoin (BTC-USD) was increasing 0.4% to $99,504, and the yield for 10-year US Treasuries was dropping 4.3 basis points to 4.61%.

In economic news, US retail sales grew by 0.4% in December, versus the 0.8% increase in November and a 0.6% gain expected in a survey compiled by Bloomberg.

In corporate news, Morgan Stanley ( MS ) shares rose 2.4%. The company reported better-than-expected Q4 results on Thursday, buoyed by its investment banking business, which reflected increased deal activity and initial public offerings.