02:16 PM EDT, 06/27/2025 (MT Newswires) -- Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.4% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index was climbing 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.6%.

Bitcoin (BTC-USD) was shedding 0.1% to $107,295, and the yield for 10-year US Treasuries was up slightly at 4.26%.

In economic news, Trump told reporters Thursday that the US and China have formally signed a trade agreement, without giving additional details, according to media reports. A spokesperson for the Chinese Ministry of Commerce confirmed Friday that the two countries have reached a consensus over a trade framework to allow rare earth exports and easing of certain restrictive measures.

The personal consumption expenditures price index rose 0.1% in May, as expected in a Bloomberg poll, lifting the year-over-year rate to 2.3% from 2.2%, the Bureau of Economic Analysis said.

The University of Michigan consumer sentiment index was revised upward to a reading of 60.7 for June from the 60.5 print in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg.

In corporate news, HSBC ( HSBC ) shares were up 0.4%. The bank said its HSBC Continental Europe unit has agreed to sell its custody business in Germany to BNP Paribas.

Banco Santander (SAN) and Barclays ( BCS ) are the final bidders for Banco Sabadell's UK unit TSB, Bloomberg reported. Santander shares rose 2%, and Barclays ( BCS ) added 1.4%.

B. Riley Financial ( RILY ) shares rose 0.5% after the company said it sold its GlassRatner Advisory & Capital Group and B. Riley Farber Advisory units to funds managed by TorQuest Partners for $117.8 million.