03:51 PM EDT, 09/20/2024 (MT Newswires) -- Financial stocks fell in late Friday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both down 0.3%.

The Philadelphia Housing Index dropped 2.5%, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.3%.

Bitcoin (BTC-USD) was steady at $62,944, and the yield for 10-year US Treasuries dropped 1.2 basis points to 3.728%.

In economic news, state-level data from the Bureau of Labor Statistics showed the unemployment rate rose in six states and the District of Columbia in August and fell in one state, while holding steady elsewhere.

In corporate news, B. Riley Financial ( RILY ) is in talks for the sale of its wealth management business for over $100 million with Stifel Financial ( SF ) , Reuters reported. B. Riley shares rose 0.6%, and Stifel fell 0.4%.

Ares Commercial Real Estate ( ACRE ) shares dropped 4.7% as Wells Fargo downgraded the company to underweight from equalweight and cut its price target to $7 from $7.50.

Apollo (APO) said its Atlas SP Partners warehouse finance affiliate secured a $5 billion funding commitment from BNP Paribas as part of a strategic financing and capital markets collaboration. Apollo shares rose 2.5%.

JPMorgan Chase ( JPM ) started testing a new credit card internally to expand products in the UK, Bloomberg reported. The shares added 0.3%.