03:45 PM EDT, 07/26/2024 (MT Newswires) -- Financial stocks rose late Friday afternoon with the NYSE Financial Index adding 1.6% and the Financial Select Sector SPDR Fund (XLF) up 1.5%.

The Philadelphia Housing Index jumped 3.4%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 1.8%.

Bitcoin (BTC-USD) advanced 3% to $67,739, and the yield for 10-year US Treasuries dropped 5.6 basis points to 4.20%.

In economic news, the pace of US consumer spending growth eased in June while the Federal Reserve's preferred inflation metric held steady on an annual basis, government data showed.

In regulatory news, the US Securities and Exchange Commission charged short seller Andrew Left and his firm Citron Capital for allegedly engaging in a $20 million fraud scheme through false and misleading stock trading recommendations.

In corporate news, JPMorgan Chase ( JPM ) unveiled a generative artificial intelligence tool that it said can do the job of a research analyst, media outlets reported. JPMorgan ( JPM ) shares rose 1.6%.

United Community Banks ( UCBI ) shares added 1.2% after the company said it will transfer the listing of its common stock and depositary shares to the New York Stock Exchange from Nasdaq.

WesBanco ( WSBC ) and Premier Financial (PFC) entered into an all-stock merger deal with WesBanco ( WSBC ) as the surviving entity. The deal, valued at about $959 million, is expected to close in Q1. WesBanco ( WSBC ) shares tumbled 4.7%, while Premier Financial added 2.4%.

Kinsale Capital ( KNSL ) shares jumped 17%, a day after the company reported Q2 operating earnings of $3.75 per diluted share, up from $2.88 a year earlier.