Sector Update: Financial

Financial stocks advanced in late Tuesday afternoon trading, with the NYSE Financial Index rising 0.8% and the Financial Select Sector SPDR Fund (XLF) up 0.6%.

The Philadelphia Housing Index popped 2.8%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.8%.

Bitcoin (BTC/USD) shed 0.4% to $66,590, and the yield for 10-year US Treasuries dropped 1.8 basis points to 4.6%.

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, Oportun Financial OPRT shares soared 43.5% after the company said late Monday that preliminary data showed Q1 sales above its initial guidance, and the firm is set to swing out of a loss a year ago.