03:51 PM EDT, 03/12/2025 (MT Newswires) -- Financial stocks rose in late Wednesday afternoon trading, with the NYSE Financial Index up 0.7% and the Financial Select Sector SPDR Fund (XLF) adding 0.4%.

The Philadelphia Housing Index shed 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.1%.

Bitcoin (BTC-USD) eased 0.1% to $82,820, and the yield for 10-year US Treasuries rose 3 basis points to 4.32%.

In economic news, data from the Bureau of Labor Statistics showed that consumer price index growth slowed to 0.2% in February from 0.5% in January. Analysts in a Bloomberg survey expected a 0.3% rise. Annually, inflation cooled to 2.8% from January's 3% versus Wall Street's 2.9% estimate.

Mortgage applications climbed for the second week in a row as declining home financing rates propped up refinancing activity, the Mortgage Bankers Association said. The market composite index, which measures loan application volume, rose 11% in the week ended Friday on a seasonally adjusted basis.

In corporate news, a consortium of KKR (KKR) and Warburg Pincus is in talks to buy Gerresheimer, a German maker of drug and cosmetic packaging, Bloomberg reported. KKR shares rose 2.1%.

UBS (UBS) received regulatory approval to sell a 36% stake in Credit Suisse's China venture, Bloomberg reported. UBS shares added 1.7%.

Blackstone (BX) is evaluating options for Hello Sunshine, a Candle Media-owned company, including a potential combination with another studio, Reuters reported. Blackstone was up 2.1%.

XP's (XP) sales of certain derivatives misrepresent profits by funneling money through specific funds like a Ponzi scheme, short-seller Grizzly Research alleged in a report Wednesday. XP shares were down 5.7%.