03:43 PM EDT, 03/27/2024 (MT Newswires) -- Financial stocks climbed in late Wednesday afternoon trading with the NYSE Financial Index adding 0.7% and the Financial Select Sector SPDR Fund (XLF) 0.8% higher.

The Philadelphia Housing Index rose 1%, and the Real Estate Select Sector SPDR Fund (XLRE) gained 2%.

Bitcoin (BTC-USD) fell 1.8% to $68,757, and the yield for 10-year US Treasuries dropped 4 basis points to 4.20%.

In economic news, wholesale inventories fell 0.2% in January based on annual revisions released by the Census Bureau Wednesday, an improvement from the 0.3% decline previously reported. December wholesale inventories were up 0.5%, an upward adjustment from the 0.4% gain previously reported.

Mortgage applications decreased for the second consecutive week as homebuyers held out for lower interest rates, the Mortgage Bankers Association said Wednesday. The market composite index retreated 0.7% for the week ended March 22 on a seasonally adjusted basis. The move followed a 1.6% fall the week before.

In corporate news, X Financial ( XYF ) shares tumbled nearly 22%, a day after the company reported its Q4 non-GAAP adjusted net income fell.

LM Funding America ( LMFA ) jumped 11% after it said Wednesday it has regained compliance with Nasdaq's minimum bid price requirement.

Coinbase (COIN) slumped 4% after a federal judge ruled the crypto exchange platform offers and sells securities under US law and allowed a lawsuit by the US Securities and Exchange Commission against the company to proceed.

BlackRock ( BLK ) received a cease-and-desist order from Mississippi authorities contending the asset manager repeatedly made "false and misleading statements to Mississippi investors" through its environmental, social and governance assertions. BlackRock ( BLK ) shares rose 1%.