03:52 PM EDT, 05/02/2024 (MT Newswires) -- Financial stocks advanced in late Thursday afternoon trading with the NYSE Financial Index adding 0.9% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) added 1.5%.

Bitcoin (BTC-USD) rose 1.6% to $59,176, and the yield for 10-year US Treasuries decreased 2 basis points to 4.57%.

In economic news, nonfarm productivity rose 0.3% in Q1 after a 3.5% gain in Q4, data released by the Bureau of Labor Statistics showed. A Bloomberg survey expected a 0.5% gain. Unit labor costs jumped by 4.7% after a flat reading in Q4, above expectations for a 4% increase.

US initial jobless claims were unchanged sequentially in the week ended April 27 from an upwardly revised 208,000, compared with expectations for an increase to 211,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Nomura (NMR) and Mizuho Financial ( MFG ) face over $100 million in potential losses tied to several failed stock trades by investment fund All Blue Capital, Bloomberg reported. Nomura shares rose 3.2%, and Mizuho gained 1.4%.

Toronto-Dominion Bank ( MLWIQXX ) was fined CA$9.2 million ($6.7 million) on April 9 for non-compliance with Part 1 of the Canada's Proceeds of Crime (Money Laundering) and Terrorism Financing Act, the Financial Transactions and Reports Analysis Centre of Canada said. Toronto-Dominion shares fell 1%.

A Russian court canceled the seizure of some JPMorgan Chase ( JPM ) funds in the country in a lawsuit filed by Russian state lender VTB, Reuters reported, citing court documents. JPMorgan ( JPM ) shares fell 0.3%.

PJT Partners ( PJT ) shares jumped 5% after Q1 results beat market expectations.