03:29 PM EST, 02/27/2025 (MT Newswires) -- Financial stocks rose in late Thursday afternoon trading with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) adding 0.5%.

The Philadelphia Housing Index fell 1.2%, while the Real Estate Select Sector SPDR Fund (XLRE) advanced 0.4%.

Bitcoin (BTC-USD) dropped 1.5% to $82,924, and the yield for 10-year US Treasuries gained 2.5 basis points to 4.288%.

In economic news, US initial jobless claims last week rose to 242,000 from an upwardly revised 220,000 in the previous week, beating forecasts for 221,000 in a survey compiled by Bloomberg.

US pending home sales fell by 4.6% in January versus the 0.9% drop expected in a survey compiled by Bloomberg and following a 4.1% decrease in December, according to data from National Association of Realtors.

In corporate news, Root (ROOT) shares jumped 25%, a day after the company reported Q4 sales jumped from a year earlier, topping estimates by analysts.