01:31 PM EDT, 09/12/2024 (MT Newswires) -- Financial stocks rose in Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both up 0.2%.

The Philadelphia Housing Index climbed 1.6%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 0.3%.

Bitcoin (BTC-USD) increased 1% to $58,107, and the yield for 10-year US Treasuries rose 4 basis points to 3.693%.

In economic news, the US producer price index in August grew 0.2% following a flat reading last month, faster than the 0.1% gain expected in a survey compiled by Bloomberg, government data showed.

US initial jobless claims last week rose to 230,000 from an upwardly revised 228,000 in the previous week, compared with expectations for a decrease to 227,000 in a survey of analysts compiled by Bloomberg.

In regulatory news, the US Treasury and the Internal Revenue Service issued a notice of proposed rulemaking to implement the Inflation Reduction Act's corporate alternative minimum tax. The proposed rules would require the biggest corporations to pay a minimum 15% tax on profit reported to shareholders, with certain adjustments, which the Treasury said would generate about $250 billion over the next 10 years, including $20 billion in 2025.

In corporate news, Mastercard ( MA ) agreed to buy cyber defense and intelligence company Recorded Future from Insight Partners for $2.65 billion. Mastercard ( MA ) shares rose 0.2%.