03:52 PM EDT, 08/05/2026 (MT Newswires) -- Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index rising 0.4% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.2%.

The Philadelphia Housing Index was adding 0.8%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.4%.

Bitcoin (BTC-USD) was rising 1.2% to $64,814, and the yield for 10-year US Treasuries decreased 1 basis point to 4.617%.

In economic news, the Institute for Supply Management's US services index rose to 54.1 in July from 54.0 in June, compared with expectations for 54.5 in a Bloomberg-compiled survey. The reading suggests faster expansion, in line with other measures but in contrast with the Richmond Fed print signaling contraction.

The S&P Global US services index was revised upwards to 54.6 in July from the 53.6 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg. The July index is above the 51.2 reading in June and is the highest for nine months.

ADP's monthly measure of private payrolls showed a 44,000 increase in July, below expectations in a Bloomberg-compiled poll for a gain of 65,000. The July increase followed a downwardly revised 95,000 jobs increase in June.

In corporate news, PayPal ( PYPL ) CEO Enrique Lores plans to break out company results and assign revenue targets for its three main businesses to give investors a clearer picture of each unit's potential, Bloomberg reported Wednesday, citing an interview. PayPal ( PYPL ) shares were down 0.8%.

JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon has reached out to CEOs of other large banks and IT companies, urging them to join a group seeking to address risks posed by AI, Reuters reported. JPMorgan ( JPM ) shares were up 0.7%.

Morgan Stanley ( MS ) is leading a consortium of banks planning to refinance through bond sales $15 billion of debt linked to a Google-backed data center in Texas that has been leased to Anthropic, the Financial Times reported. Morgan Stanley ( MS ) shares rose 0.8%.

Ares Management ( ARES ) and Three Hills Capital are in talks to provide loans to Toscafund Asset Management to help finance its acquisition of Spire Healthcare Group, Bloomberg reported. Ares shares were down 2.1%.