01:24 PM EDT, 04/12/2024 (MT Newswires) -- Financial stocks were falling in Friday afternoon trading, with the NYSE Financial Index shedding 1.4% and the Financial Select Sector SPDR Fund (XLF) off 1.3%.

The Philadelphia Housing Index was down 0.3% and the Real Estate Select Sector SPDR Fund (XLRE) decreased 0.9%.

Bitcoin (BTC-USD) was down 2.2% to $68,487, and the yield for 10-year US Treasuries was falling 8 basis points to 4.50%.

In economic news, the University of Michigan's preliminary consumer sentiment index fell to 77.9 in April from 79.4 in March, below expectations for a drop to 79 in a Bloomberg survey. Respondents saw one-year inflation expectations at 3.1%, up from 2.9% in March, while five-year inflation expectations increased to 3% from 2.8%.

In corporate news, JPMorgan Chase ( JPM ) reported better-than-expected Q1 earnings and revenue even as its net interest income fell short of analysts' estimates while it raised its full-year expense outlook. Its shares tumbled 5.7%.