Sector Update: Financial Stocks Advance in Afternoon Trading

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) adding 0.4%. The Philadelphia Housing Index was up 0.4%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.6%. Bitcoin (BTC-USD) was gaining 3.8% to $64,643, and the yield for 10-year US Treasuries was decreasing 2.4 basis points to 4.585%. In economic news, the US seasonally adjusted consumer price index fell by 0.4% in June, compared with expectations of a 0.1% decline in a survey compiled and following a 0.5% increase in May, the Bureau of Labor Statistics said Tuesday. Core CPI, which excludes food and energy prices, held steady, compared to the consensus estimate of a 0.2% gain. Core CPI rose by 0.2% in May. The year-over-year rates for headline and core CPI slowed to 3.5% and 2.6%, respectively, from 4.2% and 2.9% in May. In corporate news, Goldman Sachs' (GS) Q2 results topped Wall Street's estimates as a record performance in the global banking and markets business propelled its revenue growth. Goldman shares jumped past 7%. JPMorgan Chase (JPM) reported Q2 results.