03:49 PM EDT, 05/07/2025 (MT Newswires) -- Financial stocks rose in late Wednesday afternoon trading with the NYSE Financial Index adding 0.2% and the Financial Select Sector SPDR Fund (XLF) up 0.6%.

The Philadelphia Housing Index shed 0.q% and the Real Estate Select Sector SPDR Fund (XLRE) was little changed, erasing earlier gains.

Bitcoin (BTC-USD) eased 0.9% to $95,962, and the yield for 10-year US Treasuries shed 3.5 basis points to 4.279%.

In economic news, the Federal Open Market Committee maintained the federal funds rate at its meeting in the range of 4.25% to 4.5%.

US Treasury Secretary Scott Bessent is set to meet China's lead representative on economic matters in Switzerland later this week.

In corporate news, Robinhood (HOOD) is working on a blockchain-based platform that will let retail investors in Europe trade US stocks and other securities, Bloomberg reported. Robinhood shares added 1.4%.

Apollo Global Management ( APO ) , which is offering 11 million shares in the IPO of Aspen Insurance, may get a price at $30 apiece, the midpoint of the marketed range of $29 to $31, Bloomberg reported. Apollo shares eased 0.1%.

HSBC ( HSBC ) may face a shortfall of 7,700 desks at its planned London headquarters, Bloomberg reported. The deficit exceeds earlier internal projections of under 5,000, the report said, adding that the revised estimate is due to stricter office attendance policies and higher London staffing. HSBC ( HSBC ) shares eased 0.5%.

Payoneer Global ( PAYO ) shares fell 16% after the company reported a decline in Q1 earnings and suspended 2025 guidance, citing "current macroeconomic uncertainty."