03:56 PM EDT, 05/01/2025 (MT Newswires) -- Financial stocks increased in late Thursday afternoon trading, with the NYSE Financial Index up 0.3% and the Financial Select Sector SPDR Fund (XLF) ahead 0.6%.

The Philadelphia Housing Index added 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 1%.

Bitcoin (BTC-USD) gained 2.7% to $96,608, and the yield for 10-year US Treasuries rose 5.2 basis points to 4.23%.

In economic news, the Institute for Supply Management's US manufacturing index fell to 48.7 in April from 49.0 in March, compared with expectations of 47.9 in a survey compiled by Bloomberg.

US initial jobless claims last week rose to 241,000 from an upwardly revised 223,000 in the previous week, compared with expectations for 223,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Ares Management ( ARES ) shares rose 1.4% after it said Thursday it surpassed $3 billion in assets under management for the Ares Private Markets Fund, which allows investments in private equity.

KKR (KKR) shares rose 1.2%. The company reported Q1 adjusted earnings that topped estimates by analysts.

TPG (TPG) launched TPG Sports, a dedicated investing business focused on partnering with sports companies, teams and leagues. TPG shares added 1.4%.

HSBC ( HSBC ) Chair Mark Tucker told the board that he plans to retire before the end of the year, Bloomberg reported. HSBC ( HSBC ) shares declined 1.5%.