03:50 PM EDT, 03/13/2024 (MT Newswires) -- Financial stocks rose late Wednesday afternoon, with the NYSE Financial Index adding 0.2% and the Financial Select Sector SPDR Fund (XLF) up 0.5%.

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

Bitcoin (BTC-USD) gained 2.5% to $73,235, and the yield for 10-year US Treasuries rose 3.7 basis points to 4.192%.

In corporate news, Moelis ( MC ) shares rose 3.6% after Goldman Sachs upgraded the company to neutral from sell and raised its price target to $58 from $53.

Grayscale Bitcoin Trust ( GBTC ) shares added 2.3% after the firm filed to launch Grayscale Bitcoin Mini Trust, ticker BTC, with a portion of assets from its flagship bitcoin exchange-traded fund GBTC.

PayPal ( PYPL ) shares gained 4.3%. The company said it has appointed Aaron Webster as chief enterprise services officer, starting March 18. Webster most recently was chief risk officer and global head of operations at SoFi (SOFI).

UBS (UBS) has started layoffs within its private banking division in Asia amid declining profits, Bloomberg reported. UBS shares edged up 0.2%.