01:36 PM EDT, 05/08/2025 (MT Newswires) -- Financial stocks advanced in Thursday afternoon trading with the NYSE Financial Index rising 1.2% and the Financial Select Sector SPDR Fund (XLF) up 1.7%.

The Philadelphia Housing Index climbed 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.3%.

Bitcoin (BTC-USD) jumped 4.5% to $101,454, and the yield for 10-year US Treasuries rose 10 basis points to 4.374%.

In economic news, the UK said it secured a trade deal with the US with the agreement covering various industries including UK steel and British car makers.

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will meet with Chinese Vice Premier He Lifeng in Switzerland on Saturday and Sunday to de-escalate the tariff standoff.

US initial jobless claims last week fell to 228,000 from 241,000 in the previous week, compared with expectations for a decrease to 230,000 in survey of analysts compiled by Bloomberg.

In corporate news, Coinbase (COIN) agreed to acquire cryptocurrency trading platform Deribit for $2.9 billion, the Wall Street Journal reported. Coinbase shares jumped 6.8%.