12:19 PM EDT, 07/03/2024 (MT Newswires) -- Financial stocks were mixed Wednesday afternoon, with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) off 0.3%.

The Philadelphia Housing Index was 0.1% higher, while the Real Estate Select Sector SPDR Fund (XLRE) was 0.1% lower.

Bitcoin (BTC-USD) was declining 3% to $60,096, and the yield for 10-year US Treasuries was dropping 8 basis points to 4.36%.

In economic news, ADP's monthly measure of private payrolls showed a 150,000 increase in June, below expectations compiled by Bloomberg for an increase of 165,000.

New orders for US factory goods declined by 0.5% in May, compared with expectations for a 0.2% increase in a survey compiled by Bloomberg and following a revised 0.4% increase in April.

In corporate news, First Foundation's ( FFWM ) capital raise will likely assist with its earnings recovery but comes at a significant dilutive cost, Wedbush said in a note. Wedbush cut its price target on the stock to $5 from $6 while keeping its neutral rating. First Foundation ( FFWM ) shares tumbled past 23%.