01:52 PM EST, 01/16/2025 (MT Newswires) -- Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each adding 0.3%.

The Philadelphia Housing Index was rising 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.5%.

Bitcoin (BTC-USD) was increasing 0.4% to $99,504, and the yield for 10-year US Treasuries was dropping 4.3 basis points to 4.61%.

In economic news, US retail sales grew by 0.4% in December, versus the 0.8% increase in November and a 0.6% gain expected in a survey compiled by Bloomberg.

In corporate news, Morgan Stanley ( MS ) shares rose 2.4%. The company reported better-than-expected Q4 results on Thursday, buoyed by its investment banking business, which reflected increased deal activity and initial public offerings.

US Bancorp ( USB ) shares dropped 4.6% after it reported Q4 revenue that missed expectations.

Bank of America ( BAC ) reported stronger-than-expected growth in Q4 results as investment banking fees jumped and loans picked up, while the lender said that net interest income will accelerate in H2 2025 from the first half. Shares still fell nearly 2%.