Financial stocks edged lower in Thursday afternoon trading with the NYSE Financial Index shedding 0.2% and the Financial Select Sector SPDR Fund (XLF) easing 0.1%.
The Philadelphia Housing Index dropped 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.2%.
Bitcoin (BTC-USD) rose 1.2% to $101,605, and the yield for 10-year US Treasuries gained 3.7 basis points to 4.31%.
In economic news, the US producer price index increased 0.4% month over month on a seasonally adjusted basis in November, above the 0.2% Bloomberg-polled consensus estimate.
US initial jobless claims last week rose to 242,000 from an upwardly revised 225,000 in the previous week, compared with expectations for a drop to 220,000 in a survey compiled by Bloomberg.
In sector news, the US Consumer Financial Protection Bureau adopted new rules capping overdraft fees at $5 per transaction for banks with over $10 billion in assets. The rule is expected to save depositors $5 billion annually, the bureau said.
In corporate news, Blackstone (BX) agreed to acquire a mixed-use property asset in central Tokyo from Japanese hotel and railway operator Seibu Holdings for $2.6 billion. Blackstone shares fell 1.5%.
Activist investor Starboard Value built a large position in Riot Platforms (RIOT) and is looking to make changes at the bitcoin mining operator, The Wall Street Journal reported. Riot shares jumped 11%.
JPMorgan Chase (JPM) plans to expand its Buenos Aires corporate center by adding 1,500 workers over the next five years, Bloomberg reported. JPMorgan shares fell 0.8%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.