03:55 PM EST, 11/06/2024 (MT Newswires) -- Financial stocks surged in late Wednesday afternoon trading with the NYSE Financial Index jumping 4.1% and the Financial Select Sector SPDR Fund (XLF) soaring 6.2%.

The Philadelphia Housing Index fell 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) slumped 2.5%.

Bitcoin (BTC-USD) jumped 9.6% to $75,965, and the yield for 10-year US Treasuries surged 14 basis points to 4.43%.

In economic news, mortgage applications fell 11% in the week ended Friday as mortgage rates rose to the highest since July, according to the Mortgage Bankers Association.

In corporate news, the fees Visa (V) and MasterCard ( MA ) charge retailers in the EU are under probe by the bloc's regulators to see if the costs are hurting businesses, Reuters reported. Visa shares gained 4.6% and Mastercard ( MA ) rose 2.9%.

Capital One Financial's ( COF ) planned acquisition of Discover Financial Services ( DFS ) received a boost from Donald Trump's victory in the US presidential election, Bloomberg Intelligence said in a note. Capital One shares jumped 15% and Discover soared 20%.

Blackstone (BX) agreed to buy Retail Opportunity Investments ( ROIC ) for $4 billion in cash, or $17.50 a share. Blackstone shares rose 4.9%, and Retail Opportunity climbed 4.5%.

BlackRock ( BLK ) is preparing a private credit loan fund to raise as much as $1.3 billion for possible distribution to existing investors, Bloomberg reported. BlackRock ( BLK ) shares rose 1.9%.