Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index rising 0.6% and the Financial Select Sector SPDR Fund (XLF) ahead 0.7%.
The Philadelphia Housing Index was climbing 1.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.7%.
Bitcoin (BTC-USD) was declining 1.1% to $71,900, and the yield for 10-year US Treasuries was decreasing 1 basis point to 4.26%.
In economic news, US gross domestic product rose by 2.8% in Q3, slower than a 3% increase in Q2 and less than a 2.9% gain expected in a survey compiled by Bloomberg.
In corporate news, Visa (V) reported fiscal Q4 non-GAAP earnings and revenue that beat market expectations. Its shares jumped 3.4%.
Baldwin Insurance (BWIN) shares tumbled 6%. Blue Orca Capital accused Baldwin of acquiring small insurance firms that were already associated with the company before the acquisition, which allowed it to move commission costs off the income statement to the balance sheet and artificially inflate adjusted EBITDA and operating cash flow.
Synchrony Financial (SYF) shares rose 1.5% after it said Wednesday it's now offering buy now, pay later financing at JCPenney stores.
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