03:34 PM EST, 01/23/2025 (MT Newswires) -- Financial stocks advanced in late Thursday afternoon trading with the NYSE Financial Index rising 0.6% and the Financial Select Sector SPDR Fund (XLF) up 0.5%.

The Philadelphia Housing Index eased 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.6%.

Bitcoin (BTC-USD) increased 2.1% to $105,873, and the yield for 10-year US Treasuries rose 3.9 basis points to 4.638%.

In economic news, US initial jobless claims last week rose to 223,000 from 217,000 in the previous week, compared with expectations for 220,000 in a survey compiled by Bloomberg.

In sector news, insured losses from the Palisades and Eaton wildfires in California will be close to $28 billion, Karen Clark & Co. said.

In corporate news, PayPal ( PYPL ) will pay a $2 million penalty to New York state for violating cybersecurity regulations, the New York State Department of Financial Services said. PayPal ( PYPL ) shares fell 0.8%.