Sector Update: Financial

Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index rising 1% and the Financial Select Sector SPDR Fund (XLF) ahead 0.7%.

The Philadelphia Housing Index was climbing 2.7% and the Real Estate Select Sector SPDR Fund (XLRE) was up 1%.

Bitcoin (BTC/USD) was declining 0.5% to $66,716, and the yield for 10-year US Treasuries was dropping 3.5 basis points to 4.59%.

In economic news, the April flash reading of manufacturing conditions from S&P Global declined to a four-month low of 49.9 from 51.9 in March, compared with 52 expected in a survey compiled by Bloomberg. The index for services conditions fell to a five-month low of 50.9 in April, compared with expectations for an increase to 52.

New-home sales rose in March amid gains across all regions, while median prices at the national level increased sequentially, US government data showed Tuesday. Single-family home sales climbed 8.8% on a monthly basis to a seasonally adjusted annual rate of 693,000 from February's downwardly revised print of 637,000, according to the Census Bureau and the Department of Housing and Urban Development. Analysts expected sales to come in at the 668,000 level, which would have marked a 0.9% growth from the unrevised print, according to a survey compiled by Bloomberg.

In corporate news, Globe Life GL shares surged 14.7% in recent Tuesday trading, a day after the company reported higher Q1 net operating income and revenue.