01:36 PM EDT, 07/18/2025 (MT Newswires) -- Financial stocks were edging lower in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) easing 0.1%.

The Philadelphia Housing Index was shedding 0.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.04%.

Bitcoin (BTC-USD) was declining 1.2% to $117,886, and the yield for 10-year US Treasuries was dropping 5 basis points to 4.42%.

In economic news, the University of Michigan's preliminary consumer sentiment index rose to 61.8 in July, from 60.7 in June and ahead of Bloomberg's consensus forecast of 61.5.

June housing starts increased 4.6% from May to an annualized rate of 1.321 million, topping Bloomberg estimates of 1.300 million. Building permits edged up 0.2% to 1.397 million, beating expectations and reversing the prior month's dip.

In corporate news, American Express ( AXP ) reported better-than-expected Q2 results on Friday amid robust card member spending, while the payments company reiterated its full-year outlook. Its shares were still falling 2.7%.