01:44 PM EDT, 03/27/2024 (MT Newswires) -- Financial stocks advanced in Wednesday afternoon trading with the NYSE Financial Index adding 0.6% and the Financial Select Sector SPDR Fund (XLF) up 0.4%.

The Philadelphia Housing Index rose 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) climbed 1.8%.

Bitcoin (BTC-USD) fell 1.1% to $69,164, and the yield for 10-year US Treasuries dropped 4.2 basis points to 4.19%.

In economic news, wholesale inventories fell 0.2% in January based on annual revisions released by the Census Bureau Wednesday, an improvement from the 0.3% decline previously reported. December wholesale inventories were up 0.5%, an upward adjustment from the 0.4% gain previously reported.

Mortgage applications decreased for the second consecutive week as homebuyers held out for lower interest rates, the Mortgage Bankers Association said Wednesday. The market composite index retreated 0.7% for the week ended March 22 on a seasonally adjusted basis. The move followed a 1.6% fall the week before.

In corporate news, Coinbase (COIN) shares fell 2.3% after a federal judge ruled the crypto exchange platform offers and sells securities under US law and allowing a lawsuit by the US Securities and Exchange Commission against the company to proceed.

BlackRock ( BLK ) received a cease-and-desist order from state authorities in Mississippi contending the asset manager repeatedly made "false and misleading statements to Mississippi investors" through its environmental, social and governance assertions. BlackRock ( BLK ) shares rose 0.6%.

Noah (NOAH) shares jumped 18% after the company reported its Q4 results late Tuesday and said its board approved an annual and special dividend.