01:59 PM EDT, 04/11/2025 (MT Newswires) -- Financial stocks were rising in Friday afternoon trading, with the NYSE Financial Index adding 0.9% and the Financial Select Sector SPDR Fund (XLF) up 2.1%.

The Philadelphia Housing Index was up 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 1.3%.

Bitcoin (BTC-USD) climbed 5.7% to $83,869, and the yield for 10-year US Treasuries was rising 8.4 basis points to 4.48%.

In economic news, the US Producer Price Index fell 0.4% in March following a 0.1% gain in February, versus a 0.2% increase expected in a survey compiled by Bloomberg. After excluding food and energy prices, core PPI declined 0.1%, in contrast with the 0.3% gain expected and following a 0.1% gain in the previous month. PPI was up 2.7% year-over-year in March, while core PPI rose by 3.3% year-over-year, slower than their respective 3.2% and 3.5% February rates.

China said Friday it raised import levies on the US to 125% from 84%, retaliating against President Donald Trump's decision to jack up tariffs on the Asian powerhouse.

In corporate news, JPMorgan Chase ( JPM ) reported better-than-expected Q1 results Friday amid double-digit gains in investment banking fees, while Chief Executive Jamie Dimon said the economy is facing "considerable turbulence" due to tariffs and trade volatility. Its shares jumped 4.6%.

Morgan Stanley's ( MS ) Q1 results topped market expectations as equity trading revenue jumped, while the investment bank said the US economy is unlikely to slip into a recession. Its shares rose 2%.

Wells Fargo's ( WFC ) Q1 earnings came in ahead of Wall Street's estimates, while revenue fell more than expected, as the bank's Chief Executive Charlie Scharf called for a quick resolution to trade issues that have gripped markets recently. Its shares were up 0.4%.