03:30 PM EDT, 09/30/2024 (MT Newswires) -- Financial stocks were lower in late Monday afternoon trading with the NYSE Financial Index shedding 0.4% and the Financial Select Sector SPDR Fund (XLF) easing 0.1%

The Philadelphia Housing Index decreased 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) was little changed.

Bitcoin (BTC-USD) fell 3.4% to $63,350, and the yield for 10-year US Treasuries gained 5 basis points to 3.80%.

In economic news, Federal Reserve Chairman Jerome Powell said Monday that he could foresee two 25-basis-point rate cuts at the remaining two Federal Open Market Committee meetings this year if the economy evolves as expected.

The Institute for Supply Management's Chicago PMI reading rose to 46.6 in September from 46.1 in August, above the 46.0 print expected in a survey compiled by Bloomberg.

In corporate news, UBS (UBS) has let go of more than half of Credit Suisse's bankers in Germany following its acquisition of the fellow Swiss lender, Bloomberg reported. UBS shares were shedding 0.7%.