02:00 PM EDT, 05/09/2025 (MT Newswires) -- Financial stocks rose in Friday afternoon trading, with the NYSE Financial Index adding 0.2% and the Financial Select Sector SPDR Fund (XLF) up 0.1%.

The Philadelphia Housing Index was down 0.1%, while the Real Estate Select Sector SPDR Fund (XLRE) added 0.7%.

Bitcoin (BTC-USD) was up 2.1% at $103,170, and the yield for 10-year US Treasuries was slightly lower at 4.37%.

In economic news, US-China trade talks are expected to start this weekend in Switzerland. Treasury Secretary Scott Bessent will meet China's Vice Premier He Lifeng in Geneva. The US imposed 145% tariffs on Chinese goods, and China retaliated with 125% tariffs against the US. President Donald Trump said Friday in a social media post that China should open its market to US goods, while an "80% Tariff on China seems right! Up to Scott B".

In corporate news, Coinbase (COIN) shares fell 1.2%. The company reported Q1 adjusted earnings late Thursday of $1.94 per diluted share, down from $2.53 a year earlier and below the FactSet consensus estimate of $2.30.

TeraWulf ( WULF ) shares tumbled past 10% after it reported a wider Q1 loss as revenue fell during the period.

UBS (UBS) has ordered bankers to stop flying business class on short flights to China, Bloomberg reported. The move comes as the lender aligns its global travel policy and cuts costs in Asia in the face of slow dealmaking, the report said. UBS shares were rising 1.2%.