03:43 PM EDT, 10/08/2024 (MT Newswires) -- Financial stocks rose in late Tuesday afternoon trading, with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund (XLF) adding 0.7%.

The Philadelphia Housing Index rose 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 0.2%.

Bitcoin (BTC-USD) eased 2.1% to $61,910, and the yield for 10-year US Treasuries was little changed at 4.03%.

In economic news, the US international trade deficit narrowed to $70.43 billion in August from a $78.92 billion gap in July, compared with the $70.5 billion gap expected in a survey compiled by Bloomberg.

The National Federation of Independent Business' small business optimism index rose to 91.5 in September from 91.2 in August and 90.8 a year earlier.

In corporate news, American Express ( AXP ) shares fell 1.8% as HSBC downgraded the company's stock to hold from buy, with a $270 price target. Separately, BTIG downgraded the company to sell from neutral on "unachievable" expectations, with a price target of $230.

OneMain ( OMF ) shares dropped 2.6% as Barclays downgraded the company's stock to equalweight from overweight and adjusted the price target to $46 from $52.

Ares Management ( ARES ) shares dropped 3.7% after the company said it agreed to buy the international business of GLP Capital Partners and some of its affiliates for $3.7 billion in cash and stock.

Robinhood (HOOD) shares jumped past 10%. The company said Monday it plans to host its first investor day on Dec. 4.