Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 1.4% and the Financial Select Sector SPDR Fund (XLF) climbing 1.8%.

The Philadelphia Housing Index added 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.7%.

Bitcoin (BTC-USD) was increasing 4.4% to $62,774, and the yield for 10-year US Treasuries was decreasing 3 basis points to 4.07%.

In economic news, the US Producer Price Index held steady in September following a 0.2% increase in August and compared with a 0.1% gain expected in a survey compiled by Bloomberg.

The University of Michigan's preliminary consumer sentiment index fell to 68.9 in October from 70.1 in September, compared with expectations for an increase to 71.0 in a survey compiled by Bloomberg.

In corporate news, JPMorgan Chase's (JPM) Q3 earnings unexpectedly rose year over year while revenue topped market estimates, buoyed by gains in its investment banking operations. Its shares jumped 5.2%.

Wells Fargo's (WFC) Q3 results declined on a yearly basis but earnings topped market estimates as trading gains and investment banking fees helped drive noninterest income higher. Its shares rose 6.4%.

BlackRock (BLK) reported Q3 adjusted earnings Friday of $11.46 per diluted share, up from $10.91 a year earlier and above the Capital IQ consensus estimate of $10.32. Its shares gained 3%.