01:39 PM EST, 01/17/2025 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.6% and the Financial Select Sector SPDR Fund (XLF) ahead 0.7%.

The Philadelphia Housing Index rose 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.3%.

Bitcoin (BTC-USD) spiked 5.2% to $104,732, and the yield for 10-year US Treasuries was little changed at 4.60%.

In economic news, housing starts in December rebounded by almost 16% to a 1.499 million annual rate, beating expectations in a Bloomberg survey for a 1.33 million rate after a decrease to a 1.294 million pace in November.

US industrial production rose by 0.9% in December, above expectations for a 0.3% increase in a Bloomberg-compiled survey, and following an upwardly revised 0.2% increase in November.

In corporate news, Truist Financial's ( TFC ) Q4 results increased year over year and topped market expectations, buoyed by net interest income and noninterest income gains. Its shares popped 4.5%.