03:15 PM EST, 02/05/2025 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index rising 0.9% and the Financial Select Sector SPDR Fund (XLF) up 0.8%.

The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) added 1.6%.

Bitcoin (BTC-USD) declined 0.3% to $97,665, and the yield for 10-year US Treasuries fell 9.3 basis points to 4.42%.

In sector news, US Senator Elizabeth Warren told President Donald Trump that she believes the White House should move to stop alleged discriminatory practices by the country's largest banks, The Wall Street Journal reported Wednesday, citing a letter from Warren's office.

In economic news, the Institute for Supply Management's US services index fell to 52.8 in January from 54 in December, compared with expectations for no change in a survey compiled by Bloomberg.

In corporate news, a group of banks led by Morgan Stanley ( MS ) concluded the sale of $5.5 billion in debt backed by Elon Musk's social media company X, The Wall Street Journal reported. Morgan Stanley ( MS ) shares rose 1.3%.