03:58 PM EDT, 10/13/2025 (MT Newswires) -- Financial stocks rose in late Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each rising 1.1%.

The Philadelphia Housing Index gained 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.5%.

Bitcoin (BTC-USD) increased 0.5% to $115,699.

In economic news, President Donald Trump has softened his tone against China. "Don't worry about China, it will all be fine!" Trump said in a Truth Social post on Sunday, after threatening on Friday a 100% tariff on all Chinese imports starting Nov. 1 and potentially canceling a meeting with Chinese President Xi Jinping in South Korea, following Beijing's reported decision to impose new export controls on rare earth minerals.

In corporate news, Apollo Global Management's ( APO ) European private equity lead, Alex van Hoek, believes there is more potential for buyout deals in Europe than in the US, Bloomberg reported, citing the executive. Apollo shares climbed 3.4%.

JPMorgan Chase ( JPM ) announced a $1.5 trillion plan on Monday to finance and invest in industries "critical" to national economic security, including minerals and frontier technologies. Its shares rose 2.5%.

LendingTree ( TREE ) shares were down 3.7% after the company said Monday its board has appointed Scott Peyree as chief executive after the company's Chair and CEO Doug Lebda passed away on Sunday in an all-terrain vehicle accident.

Bank of America ( BAC ) is planning a significant risk transfer associated with a $3 billion portfolio of loans to private market funds, Bloomberg reported. Bank of America ( BAC ) shares added 0.7%.