03:33 PM EDT, 05/12/2025 (MT Newswires) -- Financial stocks gained in late Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each adding 1.8%.

The Philadelphia Housing Index jumped 3.4%, and the Real Estate Select Sector SPDR Fund (XLRE) increased 0.1%.

Bitcoin (BTC-USD) fell 2.2% to $101,706, and the yield for 10-year US Treasuries rose 8 basis points to 4.46%.

The US and China agreed to cut most tariffs temporarily, easing trade tensions. China will reduce its tariffs on US goods to 10% from 125%, while the US will lower duties on Chinese products to 30% from 145%. The new measures are effective for 90 days.

In corporate news, SLR Investment ( SLRC ) shares rose 2.4% after Ladenburg Thalmann upgraded the stock to buy from neutral.