03:40 PM EDT, 09/09/2024 (MT Newswires) -- Financial stocks were higher in late Monday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) gaining 1.6%.

The Philadelphia Housing Index increased 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 1.2%.

Bitcoin (BTC-USD) gained 3.4% to $56,738, and the yield for 10-year US Treasuries eased 1 basis point to 3.70%.

In economic news, wholesale inventories rose 0.2% in July, revised down from a 0.3% increase in the advance reading and a flat print in June. Analysts in a survey compiled by Bloomberg expected July inventories to be unrevised.

In corporate news, PNC Financial Services ( PNC ) shares were rising 3.5% as Piper Sandler raised the company's price target to $182 from $178.

Expensify ( EXFY ) shares jumped nearly 14% after the company said it has fully paid off its $22.6 million of debt and repurchased some of its stock.

TransUnion ( TRU ) and six other public companies were fined by the US Securities and Exchange Commission to settle charges that they used employment, separation, and other agreements in violation of rules prohibiting actions to block whistleblowers from reporting potential misconduct, the regulator said Monday. TransUnion ( TRU ) shares were rising 2.5%.

HSBC ( HSBC ) is mulling a combination of its commercial and investment bank divisions as part of an effort to eliminate overlapping roles across the company and cut costs, Bloomberg reported Monday. HSBC ( HSBC ) shares were adding 2.1%.