Financial stocks were advancing in Friday afternoon trading, with the NYSE Financial Index rising 0.4% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index was climbing 0.8%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.6%.

Bitcoin (BTC-USD) was shedding 0.1% to $107,295, and the yield for 10-year US Treasuries was up slightly at 4.26%.

In economic news, Trump told reporters Thursday that the US and China have formally signed a trade agreement, without giving additional details, according to media reports. A spokesperson for the Chinese Ministry of Commerce confirmed Friday that the two countries have reached a consensus over a trade framework to allow rare earth exports and easing of certain restrictive measures.

The personal consumption expenditures price index rose 0.1% in May, as expected in a Bloomberg poll, lifting the year-over-year rate to 2.3% from 2.2%, the Bureau of Economic Analysis said.

The University of Michigan consumer sentiment index was revised upward to a reading of 60.7 for June from the 60.5 print in the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg.

In corporate news, HSBC (HSBC) shares were up 0.4%. The bank said its HSBC Continental Europe unit has agreed to sell its custody business in Germany to BNP Paribas.

Banco Santander (SAN) and Barclays (BCS) are the final bidders for Banco Sabadell's UK unit TSB, Bloomberg reported. Santander shares rose 2%, and Barclays added 1.4%.

B. Riley Financial (RILY) shares rose 0.5% after the company said it sold its GlassRatner Advisory & Capital Group and B. Riley Farber Advisory units to funds managed by TorQuest Partners for $117.8 million.