01:48 PM EDT, 10/11/2024 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) climbing 1.8%.

The Philadelphia Housing Index added 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.7%.

Bitcoin (BTC-USD) was increasing 4.4% to $62,774, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.07%.

In economic news, the US Producer Price Index held steady in September following a 0.2% increase in August and compared with a 0.1% gain expected in a survey compiled by Bloomberg.

The University of Michigan's preliminary consumer sentiment index fell to 68.9 in October from 70.1 in September, compared with expectations for an increase to 71.0 in a survey compiled by Bloomberg.

In corporate news, JPMorgan Chase's ( JPM ) Q3 earnings unexpectedly rose year over year while revenue topped market estimates, buoyed by gains in its investment banking operations. Its shares jumped 5.2%.

Wells Fargo's ( WFC ) Q3 results declined on a yearly basis but earnings topped market estimates as trading gains and investment banking fees helped drive noninterest income higher. Its shares rose 6.4%.

BlackRock (BLK) reported Q3 adjusted earnings Friday of $11.46 per diluted share, up from $10.91 a year earlier and above the Capital IQ consensus estimate of $10.32. Its shares gained 3%.