01:45 PM EST, 12/16/2024 (MT Newswires) -- Financial stocks were edging higher in Monday afternoon trading with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) little changed, erasing earlier losses.

The Philadelphia Housing Index fell 0.2%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.5%.

Bitcoin (BTC-USD) jumped 3.2% to $107,647, and the yield for 10-year US Treasuries was little changed 4.40%.

In economic news, New York manufacturing activity declined more than projected in December as orders and shipments tumbled, the Federal Reserve Bank of New York said. The Empire State Manufacturing Survey's general business conditions index fell to 0.2 this month from 31.2 in November. The consensus was for drop to 10, according to a survey compiled by Bloomberg.

In corporate news, Berkshire Hills Bancorp ( BHLB ) and Brookline Bancorp ( BRKL ) agreed to merge in a $1.1 billion all-stock deal. Berkshire shares fell 1% and Brookline was little changed.