03:49 PM EDT, 05/09/2025 (MT Newswires) -- Financial stocks rose in late Friday afternoon trading with the NYSE Financial Index adding 0.3% and the Financial Select Sector SPDR Fund (XLF) little changed, paring earlier gains.

The Philadelphia Housing Index eased 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.8%.

Bitcoin (BTC-USD) shed 0.2% to $103,033, and the yield for 10-year US Treasuries was little changed at 4.385%.

In economic news, US and Chinese officials are due to meet in Switzerland over the weekend to discuss economic and trade matters. President Donald Trump on Friday floated the idea of lowering tariffs on China to 80% from 145%.

In corporate news, Sun Life Financial ( SLF ) shares rose 3.2%. The company reported Q1 underlying earnings that surpassed Wall Street estimates.

Banco Santander (SAN) rejected an 11 billion pound ($14.64 billion) bid from NatWest ( NWG ) for its UK retail bank earlier this year, the Financial Times reported. Santander shares rose 0.8% and NatWest ( NWG ) gained 1.6%.

Coinbase (COIN) shares dropped 3.2%, a day after the company reported Q1 adjusted earnings that trailed estimates by analysts.

TeraWulf ( WULF ) shares tumbled 9.8% after the company reported a wider Q1 loss, surprising analysts, and revenue dropped more than expected.