01:25 PM EST, 02/24/2025 (MT Newswires) -- Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index rising 0.7% and the Financial Select Sector SPDR Fund (XLF) adding 1%.

The Philadelphia Housing Index was fractionally higher, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.9%.

Bitcoin (BTC-USD) was declining 1.1% to $94,779, and the yield for 10-year US Treasuries was decreasing 2.4 basis points to 4.40%.

In economic news, the Dallas Fed's monthly manufacturing index fell to minus 8.3 in February from 14.1 in January, compared with expectations for 6.4 in a survey compiled by Bloomberg.

In regulatory news, the US Securities and Exchange Commission plans to lay off top leaders at regional offices across the country amid cost-cutting scrutiny by the Trump administration, Reuters reported.

In corporate news, Apollo Global Management ( APO ) has agreed to buy and take private real estate-focused investment firm Bridge Investment Group ( BRDG ) in an all-stock deal worth $1.5 billion that is expected to strengthen Apollo's real estate equity platform. Apollo shares fell 1.1% and Bridge jumped 37%.