03:25 PM EDT, 09/12/2024 (MT Newswires) -- Financial stocks edged up in late Thursday afternoon trading with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) added 0.1%.

The Philadelphia Housing Index climbed 1.8%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.1%.

Bitcoin (BTC-USD) increased 1.5% to $58,428, and the yield for 10-year US Treasuries rose 3 basis points to 3.68%.

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 in the week ended Sept. 7 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, JPMorgan Chase ( JPM ) and Bank of America ( BAC ) plan to curb and more closely track the working hours of their young bankers in the wake of a Wall Street Journal probe that uncovered a culture of overwork within the industry, the WSJ reported Thursday. JPMorgan ( JPM ) and Bank of America ( BAC ) shares were each shedding 0.5%.