02:03 PM EDT, 04/08/2026 (MT Newswires) -- Financial stocks climbed in Wednesday afternoon trading, with the NYSE Financial Index rising 3% and the State Street Financial Select Sector SPDR ETF (XLF) adding 2.6%.

The Philadelphia Housing Index was climbing 4.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) advanced 1.5%.

Bitcoin (BTC-USD) was declining 0.3% to $71,679, and the yield for 10-year US Treasuries was dropping 6.4 basis points to nearly 4.28%.

In sector news, US equity indexes jumped and crude oil futures sank after a conditional two-week ceasefire agreement with Iran boosted investor confidence and eased geopolitical tensions. Pakistan's prime minister invited delegations from Iran and the US to Islamabad for talks on Friday, CNN reported. Trump's special envoy Steve Witkoff, son-in-law Jared Kushner, and Vice President JD Vance are expected to attend to reach a final settlement with Tehran.

In economic news, mortgage applications in the US fell last week amid elevated rates and continued macro uncertainty, the Mortgage Bankers Association said Wednesday. The market composite index, which measures loan application volume, dropped 0.8% for the week through Friday on a seasonally adjusted basis. Without adjustments, the index decreased 1% week over week.

In corporate news, BlackRock's ( BLK ) Global Infrastructure Partners and KKR (KKR) are among the potential bidders for a controlling stake in Associated British Ports valued at about 10 billion British pounds ($13.47 billion), Bloomberg reported. BlackRock ( BLK ) shares climbed 4.9%, and KKR added 3.5%.

Sumitomo Mitsui Financial Group's ( SMFG ) SMBC Group unit will invest $50.5 million to build its second US headquarters in Charlotte, North Carolina, according to a statement from Governor Josh Stein's office. Sumitomo Mitsui Financial Group ( SMFG ) shares rose 5.5%.

Apollo Global Management ( APO )-managed (APO) funds, Brookfield Asset Management ( BAM ) , Sumitomo, and SMBC Aviation Capital said Wednesday they completed the acquisition of Air Lease (AL) for about $7.4 billion, or $28.2 billion inclusive of debt obligations, and renamed the company Sumisho Air Lease. Apollo shares rose 0.4%, and Brookfield added 2.6%.