03:43 PM EDT, 04/17/2024 (MT Newswires) -- Financial stocks were higher in late Wednesday afternoon trading, with the NYSE Financial Index adding 0.2% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index was declining by 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.4%.

Bitcoin (BTC-USD) fell 2.8% to $61,055, and the yield for 10-year US Treasuries was off 6.8 basis points to 4.59%.

In economic news, mortgage applications rose for the second consecutive week, driven by purchasing activity, even though rates increased across all loan types, the Mortgage Bankers Association said Wednesday. The market composite index gained 3.3% for the week ended April 12 on a seasonally adjusted basis after a 0.1% increase the week before.

In corporate news, Morgan Stanley ( MS ) is looking to raise $8 billion via multiple bond offerings for general corporate purposes, Bloomberg reported Wednesday. Separately, BofA Securities said in a note to clients that Morgan Stanley's ( MS ) better-than-expected Q1 results showed the company's ability to deliver on management's strategic targets. The investment firm reiterated its buy rating on Morgan Stanley ( MS ) and raised the price target to $106 from $100. Morgan Stanley ( MS ) shares were adding 0.9%.

Citizens Financial (CFG) reported Q1 underlying earnings, a non-GAAP measure, Wednesday of $0.79 per diluted share, down from $1.10 a year earlier. Analysts polled by Capital IQ expected $0.76. Its shares rose 2.3%.

Travelers (TRV) shares sank almost 8% after the insurer reported weaker-than-expected Q1 results amid higher catastrophe losses.

Visa (V) and Mastercard ( MA ) are expected to report Q1 revenue in line with market expectations, partly benefiting from Easter and leap year timing, while earnings per share have the potential for a "small" beat, BofA Securities said Wednesday in a report. Visa shares added 0.5% and Mastercard ( MA ) increased 0.2%.