Financial stocks advanced Wednesday afternoon, with the NYSE Financial Index rising 1.2% and the State Street Financial Select Sector SPDR ETF (XLF) gaining 0.6%.

The Philadelphia Housing Index climbed 1.3%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) rose 0.5%.

Bitcoin (BTC-USD) increased 0.8% to $68,708, and the yield for 10-year US Treasuries was up slightly at almost 4.32%.

In economic news, US retail sales rose 0.6% in February, above the 0.5% gain expected in a Bloomberg survey and January's revised 0.1% decline. Excluding a jump in motor vehicle sales, retail sales were still up 0.5%, compared with the 0.3% increase forecast. Removing both motor vehicle and higher gasoline station sales, retail sales rose 0.4% from 0.2% in January.

The Institute for Supply Management's US manufacturing index climbed to 52.7 in March from 52.4 in February, above the 52.3 print anticipated in a Bloomberg-compiled poll.

The S&P Global US manufacturing index for March was revised downward to 52.3 from the flash reading of 52.4, compared with expectations for no revision in a Bloomberg-compiled survey.

In sector news, SpaceX is working with at least 21 banks on its planned IPO that may value the rocket company at around $1.75 trillion, Reuters reported late Tuesday. Separately, SpaceX filed confidentially for the IPO with the US Securities and Exchange Commission, Bloomberg reported Wednesday.

In corporate news, Banco Santander (SAN) is preparing significant risk transfers tied to $2 billion of US corporate loans and over 1 billion pounds ($1.33 billion) of commercial real estate loans in the UK, Bloomberg reported. Santander shares gained 3.2%.

Intel (INTC) and Apollo Global Management (APO) said Wednesday they have reached a deal under which Intel will buy back for $14.20 billion the 49% stake in the joint venture related to its Fab 34 plant in Ireland that it previously sold to Apollo. Apollo shares were down 0.6%.

Visa (V) is launching six new tools that will use AI to manage disputes related to credit card charges, CNBC reported. Visa shares declined 0.8%.