01:39 PM EDT, 05/07/2025 (MT Newswires) -- Financial stocks advanced in Wednesday afternoon trading with the NYSE Financial Index rising 0.9% and the Financial Select Sector SPDR Fund (XLF) up 1%.

The Philadelphia Housing Index gained 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 0.3%.

Bitcoin (BTC-USD) eased to 0.1% to $96,700, and the yield for 10-year US Treasuries shed 2.7 basis points to 4.287%.

In economic news, the Fed's monetary policy decision is due at 2 pm ET, and Chair Jerome Powell will hold a press briefing at 2:30 pm ET. Currently, the CME's FedWatch tool shows a 97% probability that the Fed will hold the target range for its federal funds rate at 4.25% to 4.5%.

US Treasury Secretary Scott Bessent is set to meet China's lead representative on economic matters in Switzerland later this week.

In corporate news, Apollo Global Management ( APO ) , which is offering 11 million shares in the IPO of Aspen Insurance, may get a price at $30 apiece, the midpoint of the marketed range of $29 to $31, Bloomberg reported. Apollo shares added 0.4%.