03:46 PM EST, 01/30/2026 (MT Newswires) -- Financial stocks were lower in Friday late afternoon trading, with the NYSE Financial Index decreasing 0.7% and the State Street Financial Select Sector SPDR ETF (XLF) off 0.2%.

The Philadelphia Housing Index dropped 2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) shed 0.1%.

Bitcoin (BTC-USD) was declining 0.1% to $83,657, and the yield for 10-year US Treasuries rose 1.6 basis points to 4.24%.

In economic news, the US Bureau of Labor Statistics reported Friday that the Producer Price Index rose by 0.5% in December following a 0.2% increase in November, above the 0.2% gain expected in a Bloomberg-compiled survey. After excluding food and energy prices, core PPI jumped by 0.7%, above the 0.2% gain expected and following a flat reading in the previous month.

President Donald Trump nominated Kevin Warsh to succeed Jerome Powell as the next Federal Reserve chair. In a social media post early Friday, Trump announced Warsh's nomination, saying he has known him "for a long period of time." Trump said he has "no doubt" that Warsh "will go down as one of the Great Fed Chairmen, maybe the best." Warsh has previously served as a Fed governor and economic adviser.

In corporate news, PennyMac Financial Services ( PFSI ) shares tumbled 33%. The company reported Q4 earnings late Thursday of $1.97 per diluted share, up from $1.95 a year earlier but below the FactSet consensus of $3.10.

American Express' ( AXP ) Q4 earnings fell slightly short of Wall Street's expectations Friday, while the payments company projected bottom-line for 2026 to be higher sequentially. Its shares fell 1.6%.

Visa (V) shares dropped 2.7%. The payments giant's fiscal Q2 outlook late Thursday implied a step-down in sequential revenue growth.

Prudential Financial's ( PRU ) India asset manager, PGIM India Asset Management, received bids from at least two local firms, Bloomberg reported. State Street Investment Management-backed Groww Asset Management and Edelweiss Asset Management submitted offers, the report said. Prudential shares rose 0.7%.