Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index up 0.5% and the Financial Select Sector SPDR Fund (XLF) adding 0.6%.

The Philadelphia Housing Index was decreasing 0.3%, while the Real Estate Select Sector SPDR Fund (XLRE) rose 0.2%.

Bitcoin (BTC-USD) was declining 2.2% to $106,192, and the yield for 10-year US Treasuries was rising 3 basis points to 4.01%.

In economic news, President Donald Trump told Fox Business the imposition of a 100% tariff on Chinese goods in response to Beijing's export controls on rare earth would not be sustainable, while confirming plans to meet his Chinese counterpart, Xi Jinping, in South Korea at the end of this month.

In corporate news, American Express (AXP) lifted the bottom end of its full-year outlook on Friday as the payments company's Q3 results surpassed market estimates amid card member spending growth. Its shares jumped 7%.

Fifth Third Bancorp (FITB), Huntington Bancshares (HBAN), and Regions Financial (RF) on Friday provided upbeat views on credit quality, helping ease broader concerns over bad loans at US banks. Fifth Third shares added 1.3%, Huntington rose 0.8%, while Regions was fractionally lower.

Truist Financial (TFC) shares climbed 3.5% after it reported Q3 earnings that beat analysts' expectations.