03:33 PM EST, 12/12/2024 (MT Newswires) -- Financial stocks were lower in late Thursday afternoon trading with the NYSE Financial Index shedding 0.4% and the Financial Select Sector SPDR Fund (XLF) easing 0.2%.

The Philadelphia Housing Index dropped 1%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.1%.

Bitcoin (BTC-USD) fell 1.4% to $99,771, and the yield for 10-year US Treasuries gained 5 basis points to 4.32%.

In economic news, the US producer price index increased 0.4% month-over-month on a seasonally-adjusted basis in November, above the 0.2% Bloomberg-polled consensus estimate.

US initial jobless claims last week rose to 242,000 from an upwardly revised 225,000 in the previous week, compared with expectations for a drop to 220,000 in a survey compiled by Bloomberg.

In sector news, the US Consumer Financial Protection Bureau adopted new rules capping overdraft fees at $5 per transaction for banks with over $10 billion in assets. The rule is expected to save depositors $5 billion annually, the bureau said.

In corporate news, Roadzen ( RDZN ) shares plunged 26%. The company agreed in principle with Mizuho Securities USA to extend the maturity of its $11.5 million 15% senior secured notes by one year to Dec. 31, 2025.

Tejon Ranch ( TRC ) said Thursday that Chief Operating Officer Allen E. Lyda plans to retire on March 1, 2025. Its shares were falling 1.3%.

Blackstone (BX) agreed to buy a mixed-use property asset in central Tokyo from Japanese hotel and railway operator Seibu for $2.6 billion. Blackstone shares were down 1.4%.

Activist investor Starboard Value built a large position in Riot Platforms ( RIOT ) and is looking to make changes at the bitcoin mining operator, The Wall Street Journal reported. Riot shares jumped over 5%.