03:43 PM EST, 11/05/2025 (MT Newswires) -- Financial stocks rose in late Wednesday afternoon trading, with the NYSE Financial Index up 0.5% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%.

The Philadelphia Housing Index fell 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) edged up 0.2%.

Bitcoin (BTC-USD) rose 4.1% to $104,512, and the yield for 10-year US Treasuries rose 6.6 basis points to 4.16%.

In economic news, employment in the US private sector increased more than expected in October following two consecutive months of weak hiring, Automatic Data Processing (ADP) reported Wednesday. Private jobs rose by 42,000 in October, ADP reported. The consensus was for a 30,000 increase in a Bloomberg-compiled survey.

The Institute for Supply Management's US services index rose to 52.4 in October from 50.0 in September, compared with expectations for 50.8 in a survey compiled by Bloomberg.

The S&P Global US services index was revised downward to 54.8 in October from the 55.2 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg.

Mortgage applications in the US dropped last week as 30-year loan rates rose despite the Federal Reserve's latest monetary policy easing, data from the Mortgage Bankers Association showed Wednesday. The market composite index, which measures loan application volume, declined 1.9% on a seasonally adjusted basis for the week ended Friday, following a 7.1% increase the week prior.

In corporate news, Hudson Pacific Properties ( HPP ) shares climbed over 6% after its Q3 adjusted FFO and revenue came in ahead of analysts' estimates.

Lemonade (LMND) shares surged past 34% after the company reported better-than-expected Q3 revenue and raised its full-year guidance.

Fidelity National Information Services ( FIS ) shares added 2.2% after the company reported higher Q3 adjusted earnings and revenue.

Ares Management ( ARES ) said Wednesday that Ares Alternative Credit funds, together with other Ares-affiliated funds, have closed the acquisition of a 20% stake in Eni's (E) renewable energy unit Plenitude for 2 billion euros ($2.29 billion). Ares shares rose 0.1%.