01:59 PM EDT, 05/07/2025 (MT Newswires) -- Financial stocks rose in Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both climbing 0.7%.

The Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund (XLRE) both gained 0.1%.

Bitcoin (BTC-USD) eased to 0.1% to $96,700, and the yield for 10-year US Treasuries shed 2.7 basis points to 4.287%.

In economic news, the Fed's monetary policy decision is due at 2 pm ET, and Chair Jerome Powell will hold a press briefing at 2:30 pm ET. Currently, the CME's FedWatch tool shows a 97% probability that the Fed will hold the target range for its federal funds rate at 4.25% to 4.5%.

US Treasury Secretary Scott Bessent is set to meet China's lead representative on economic matters in Switzerland later this week.

In corporate news, Apollo Global Management ( APO ) , which is offering 11 million shares in the IPO of Aspen Insurance, may get a price at $30 apiece, the midpoint of the marketed range of $29 to $31, Bloomberg reported. Apollo shares were little changed.

HSBC ( HSBC ) may face a shortfall of 7,700 desks at its planned London headquarters, Bloomberg reported. The deficit exceeds earlier internal projections of under 5,000, the report said, adding that the revised estimate is due to stricter office attendance policies and higher London staffing. HSBC ( HSBC ) shares eased 0.3%.

Payoneer Global ( PAYO ) shares fell 13% after the company reported a decline in Q1 earnings and suspended 2025 guidance, citing "current macroeconomic uncertainty."