03:33 PM EST, 03/05/2025 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) adding 0.8%.

The Philadelphia Housing Index climbed 2.3%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 1%.

Bitcoin (BTC-USD) climbed 3% to $89,889, and the yield for 10-year US Treasuries rose 6 basis points to 4.27%.

In economic news, Automatic Data Processing's monthly measure of private payrolls showed an increase of 77,000 jobs in February, below the gain of 140,000 expected in a survey compiled by Bloomberg.

The Institute for Supply Management's US services index rose to 53.5 in February from 52.8 in January, compared with expectations for 52.5 in a survey compiled by Bloomberg.

New orders for US factory goods rose 1.7% in January, as expected in a Bloomberg-compiled survey, compared with a 0.6% decrease in December.

In corporate news, KKR (KKR) plans to expand Strategic Holdings, its long-term ownership arm that it created more than a year ago, Bloomberg reported. KKR shares were rising 2%.