03:52 PM EDT, 07/25/2024 (MT Newswires) -- Financial stocks were rising in late Thursday afternoon trading, with the NYSE Financial Index adding 0.3% and the Financial Select Sector SPDR Fund (XLF) up 0.9%.

The Philadelphia Housing Index was climbing 2.3%, while the Real Estate Select Sector SPDR Fund (XLRE) was shedding 0.3%.

Bitcoin (BTC-USD) was declining 0.8% to $64,821, and the yield for 10-year US Treasuries was dropping 3 basis points to 4.26%.

In economic news, gross domestic product rose 2.8% in Q2, versus a 1.4% increase in Q1 and a 2% gain expected in a Bloomberg survey.

US initial jobless claims fell sequentially to 235,000 during the week ended July 20 from an upwardly revised 245,000 in the previous week, compared with expectations for 238,000 in a Bloomberg survey.

New orders for US durable goods fell 6.6% in June following a gain of 0.1% in the previous month, compared with expectation for a 0.3% increase in a Bloomberg survey.

In corporate news, CBRE ( CBRE ) shares jumped nearly 10% after Raymond James raised the company's price target to $124 from $122 following its better-than-expected Q2 results.

Ladder Capital ( LADR ) shares rose almost 3% after the company reported Q2 distributable earnings Thursday of $0.31 per diluted share, down from $0.33 a year earlier but ahead of the $0.29 expected by analysts polled by Capital IQ.

Goosehead Insurance ( GSHD ) shares surged nearly 30% after Truist raised its price target on the stock following its Q2 earnings.

ChoiceOne Financial Services ( COFS ) shares tumbled past 11% after the company and Fentura Financial said Thursday they have agreed to merge in an all-stock deal.