03:44 PM EDT, 05/01/2025 (MT Newswires) -- Financial stocks rose in late Thursday afternoon trading with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund (XLF) ahead 0.5%.

The Philadelphia Housing Index added 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.7%.

Bitcoin (BTC-USD) gained 2.4% to $96,520, and the yield for 10-year US Treasuries rose 5 basis points to 4.23%.

In economic news, the Institute for Supply Management's US manufacturing index fell to 48.7 in April from 49.0 in March, compared with expectations of 47.9 in a survey compiled by Bloomberg.

US initial jobless claims last week rose to 241,000 from an upwardly revised 223,000 in the previous week, compared with expectations for 223,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Ares Management ( ARES ) shares rose 1.3% after it said Thursday it has surpassed $3 billion in assets under management for the Ares Private Markets Fund, which allows investments in private equity.