03:47 PM EST, 01/30/2025 (MT Newswires) -- Financial stocks advanced in late Thursday afternoon trading with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) up 0.6%.

The Philadelphia Housing Index climbed 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.9%.

Bitcoin (BTC-USD) was up 1.9% at $105,775, and the yield for 10-year US Treasuries shed 1.6 basis points to 4.528%.

In economic news, US GDP rose 2.3% in the advance estimate for Q4, below a 2.6% gain expected in a survey compiled by Bloomberg and slower than 3.1% growth in Q3.

US initial jobless claims last week fell to 207,000 from 223,000 in the previous week, compared with expectations for 225,000 in a survey compiled by Bloomberg.

In sector news, Sam Bankman-Fried's parents have been meeting with lawyers and others close to President Donald Trump in a bid to secure a pardon for their son, sentenced to 25 years in federal prison for fraud related to the collapse of the FTX crypto exchange, Bloomberg reported.

In corporate news, KKR's (KKR) global wealth unit executive, Blake Shorthouse, left the private equity firm after a decade, Bloomberg reported. KKR shares eased 0.1%.

Blackstone (BX) is close to buying a 50-story Midtown Manhattan building spanning 1.9 million square feet, media outlets reported. Blackstone shares fell 4.6%.

Innovative Industrial Properties ( IIPR ) shares jumped 9%. The company resolved defaults on leases for 11 properties with PharmaCann.

Mastercard ( MA ) reported better-than-expected Q4 results amid robust consumer spending, while growth in the value of transactions processed on its platform accelerated. The shares rose 2.4%.