03:47 PM EDT, 07/10/2024 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index adding 0.4% and the Financial Select Sector SPDR Fund (XLF) up 0.1%.

The Philadelphia Housing Index climbed 2%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.4%.

Bitcoin (BTC-USD) fell 0.9% to $57,499, and the yield for 10-year US Treasuries eased 2 basis points to 4.28%.

In regulatory news, President Joe Biden will nominate Office of Management and Budget official Julie Siegel for a commissioner seat at the Commodity Futures Trading Commission, Politico reported.

In corporate news, Brighthouse Financial ( BHF ) jumped 5.3% following an upgrade to buy from hold by Jefferies, which also increased the price target on the company to $54 from $49.

Visa (V) and Mastercard ( MA ) face the prospect of elevated regulatory activity that may limit multiple expansion, BofA Securities said, downgrading the credit-card companies to neutral from buy. Visa shares fell 1%, and Mastercard ( MA ) dropped 2.6%.

Capital Bancorp ( CBNK ) shares rose 1.1% after the company received regulatory approval from the Federal Reserve Bank of Richmond for its planned acquisition of Integrated Financial.

HSBC Holdings ( HSBC ) is reorganizing parts of its investment bank to make it similar to rivals such as Citigroup (C), Bloomberg reported. HSBC ( HSBC ) shares added 0.5%.