03:23 PM EST, 02/13/2025 (MT Newswires) -- Financial stocks advanced in late Thursday afternoon trading with the NYSE Financial Index up 0.6% and the Financial Select Sector SPDR Fund (XLF) gaining 0.7%.

The Philadelphia Housing Index added 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.6%.

Bitcoin (BTC-USD) fell 1.7% to $96,153, and the yield for 10-year US Treasuries dropped 11 basis points to 4.53%.

In economic news, the US producer price index rose by 0.4% in January, slower than an upwardly revised 0.5% gain in December and above the 0.3% increase expected in a survey compiled by Bloomberg.

US initial jobless claims last week fell to 213,000 from an upwardly revised 220,000 in the previous week, compared with expectations for a smaller decrease to 216,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Blackstone (BX) plans to get an $800 million loan to finance its purchase of a stake in an office building in New York City, Reuters reported. Blackstone shares fell 0.5%.