01:36 PM EDT, 08/13/2024 (MT Newswires) -- Financial stocks were advancing in Tuesday afternoon trading, with the NYSE Financial Index adding 0.7% and the Financial Select Sector SPDR Fund (XLF) ahead 0.4%.

The Philadelphia Housing Index was climbing 1.7%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.6%.

Bitcoin (BTC-USD) was gaining 2.5% to $60,990, and the yield for 10-year US Treasuries was dropping 6 basis points to 3.85%.

In economic news, the US producer price index increased 0.1% month over month in July on a seasonally adjusted basis, compared with the Bloomberg-polled consensus for a 0.2% gain.

In corporate news, KeyCorp ( KEY ) is likely to use the $2.8 billion investment from Bank of Nova Scotia ( BNS ) to restructure its bond portfolio and improve its position to seize growth opportunities or endure unforeseen economic surprises, RBC Capital Markets said in a Tuesday note. KeyCorp ( KEY ) shares were falling 2% while Bank of Nova Scotia ( BNS ) was rising 1.3%.

NatWest ( NWG ) shares were rising 1.6% after the UK bank said Tuesday it has executed a 1.1 billion pound ($1.41 billion) own-asset securitization deal to recycle capital and boost lending to clients in the renewable energy and energy transition sectors.

Paysafe ( PSFE ) shares jumped 8.9% after the company reported higher Q2 adjusted net income and revenue in addition to lifting its fiscal 2024 revenue outlook.