03:36 PM EST, 11/27/2024 (MT Newswires) -- Financial stocks advanced in late Wednesday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both up 0.2%.

The Philadelphia Housing Index was little changed, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 0.9%.

Bitcoin (BTC-USD) gained 5.6% to $97,050, and the yield for 10-year US Treasuries dropped 6 basis points to 4.24%.

In economic news, the personal consumption expenditures price index rose 0.2% in October, the same as in the previous month and as expected, lifting the year-over-year rate to 2.3% from 2.1% in September. The core PCE price index increased by 0.3%, also in line with the prior month and as expected. The year-over-year rate accelerated to 2.8% from 2.7% in the previous month.

US initial jobless claims last week declined to 213,000 from an upwardly revised 215,000 level in the previous week, compared with expectations for an increase to 215,000 in a survey compiled by Bloomberg.

US economic growth, measured by gross domestic product, was unrevised at a 2.8% gain in Q3, as expected in a survey compiled by Bloomberg.

In corporate news, B. Riley Financial ( RILY ) shares dropped 2.1%. The company received an additional noncompliance notice from Nasdaq for failing to file its quarterly report on Form 10-Q for the period ended Sept. 30 on time.

BlackRock ( BLK ) , State Street (STT) and Vanguard were accused by authorities in Texas and almost a dozen other states of using investments in coal mining and utility companies to manipulate electricity prices. BlackRock ( BLK ) shares shed 0.7%, and State Street eased 0.2%.

Global Payments ( GPN ) is exploring the sale of its payroll and Active Network businesses, Bloomberg reported. The shares rose 1.8%.

UBS (UBS) was acquitted of drug trafficking and money laundering allegations involving a Bulgarian criminal organization and the bank's Credit Suisse subsidiary, according to the Federal Criminal Court in Switzerland. UBS shares added 0.3%.