03:43 PM EDT, 04/19/2024 (MT Newswires) -- Financial stocks were advancing in late Friday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund (XLF) adding 1.2%.

The Philadelphia Housing Index was shedding 0.9%, while the Real Estate Select Sector SPDR Fund (XLRE) was up 0.3%.

Bitcoin (BTC-USD) was increasing 1.5% to $64,234, and the yield for 10-year US Treasuries was down 3 basis points to 4.62%.

In economic news, Chicago Federal Reserve President Austan Goolsbee said progress made by the Federal Reserve in easing inflationary pressures has "stalled," and it "makes sense" to extend the pause rather than cut interest rates.

In corporate news, Blackstone's (BX) funds business Strategic Partners sold a portfolio of private equity fund interests worth $1.1 billion to Ares Management ( ARES ) , Bloomberg reported Friday. Blackstone shares retreated 1.6%, while Ares was down 1.1%.

American Express' ( AXP ) Q1 results increased on a yearly basis and topped market estimates, while the company reiterated its full-year outlook for earnings and revenue growth. Its shares jumped 5.8%.

Fifth Third Bancorp's ( FITB ) Q1 results declined less than expected, while Regions Financial's ( RF ) earnings fell sharply and missed expectations, the banks separately reported on Friday. Fifth Third shares spiked 5.2% and Regions fell 1.3%.

Banking regulators are looking to revive a proposal that would require big banks to defer executive compensation and allow them to dock more of their bonuses if losses mount, the Wall Street Journal reported, citing people familiar with the matter.