01:24 PM EDT, 08/08/2025 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each adding 0.7%.

The Philadelphia Housing Index was adding 0.4%, while the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.4%.

Bitcoin (BTC-USD) was declining 0.1% to $116,400, and the yield for 10-year US Treasuries was rising 3.9 basis points to 4.28%.

In sector news, the Trump administration is preparing to sell stock in Fannie Mae and Freddie Mac in a deal that could raise around $30 billion and begin later this year, The Wall Street Journal reported.

In corporate news, KKR (KKR) amended its terms with institutional investors to enable it to provide a larger chunk of its deals to wealthy individuals, the Financial Times reported. KKR shares rose 0.4%.