03:47 PM EDT, 08/14/2024 (MT Newswires) -- Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index rising 1.1% and the Financial Select Sector SPDR Fund (XLF) gaining 1.2%.

The Philadelphia Housing Index shed 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.6%.

Bitcoin (BTC-USD) dropped 3% to $58,804, and the yield for 10-year US Treasuries decreased 3 basis points to 3.82%.

In economic news, the US seasonally adjusted consumer price index rose 0.2% in July, as expected in a survey compiled by Bloomberg, following a 0.1% drop in June. Annually, inflation eased to 2.9% in July, the smallest increase since March 2021.

Mortgage applications rallied last week to the highest since January 2023, driven by a surge in refinance activity, the Mortgage Bankers Association said.

In corporate news, Goldman Sachs ( GS ) agreed to sell the Blanchardstown Centre shopping center in Ireland to Strategic Value Partners, Bloomberg reported. Goldman shares rose 1.4%.

Qifu Technology ( QFIN ) shares jumped past 11% after the company reported higher Q2 adjusted earnings and revenue.

UBS (UBS) shares gained 5.4%. The bank reported Q2 earnings Wednesday of $0.34 per diluted share, down from $8.51 a year earlier. Revenue for the quarter was $11.90 billion, up from $9.54 billion a year earlier. Separately, UBS has agreed to sell Credit Suisse's US Mortgage Servicing business, UBS Chief Financial Officer Todd Tuckner said Wednesday during the company's earnings call.

Atlantic American ( AAME ) shares jumped 6.7% after the company reported its Q2 results.