Financial stocks were advancing in Wednesday afternoon trading, with the NYSE Financial Index adding 0.4% and the Financial Select Sector SPDR Fund (XLF) up 0.1%.

The Philadelphia Housing Index was shedding 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) was easing 0.1%.

Bitcoin (BTC-USD) was gaining 3.7% to $100,271, and the yield for 10-year US Treasuries was rising 2 basis points to 4.24%.

In economic news, the consumer price index increased 0.3% in November, ticking up from 0.2% in each of the previous four months, the Bureau of Labor Statistics reported Wednesday. Annually, inflation accelerated to 2.7% from October's 2.6% pace. Both measures were in line with forecasts in a Bloomberg-compiled survey.

In corporate news, Blackstone (BX) has decided not to proceed with a joint takeover bid for eyecare company Bausch + Lomb (BLCO), the Financial Times reported. Blackstone shares rose 1.9% and Bausch + Lomb tumbled 13%.

TPG (TPG) Co-Founder David Bonderman has died at 82, the private equity company said Wednesday. TPG shares were rising 3.7%.

Roadzen (RDZN) said Wednesday that it signed a memorandum of understanding to collaborate with Cimarron Underwriters. Roadzen shares were falling 7.9%.