03:28 PM EDT, 08/07/2025 (MT Newswires) -- Financial stocks dropped in late Thursday afternoon trading with the NYSE Financial Index down 0.7% and the Financial Select Sector SPDR Fund (XLF) falling 1.2%.

The Philadelphia Housing Index rose 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.3%.

Bitcoin (BTC-USD) advanced 1.5% to $116,588, and the yield for 10-year US Treasuries rose 1.8 basis points to 4.25%.

In economic news, initial jobless claims last week rose to 226,000 from an upwardly revised 219,000 in the previous week, compared with expectations for 222,000 in a survey compiled by Bloomberg.

Consumer expectations for one-year US inflation growth rose to a 3.1% gain in July from a 3% gain in the previous month, according to a survey released by the New York Federal Reserve Bank.

In corporate news, Apollo Global Management ( APO ) is increasing its loan to SoftBank's Vision Fund 2 by $900 million, bringing the total to $5.4 billion in net-asset value financing, Bloomberg reported. Apollo shares fell 3.6%.