01:50 PM EDT, 06/06/2024 (MT Newswires) -- Financial stocks fell in Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each shedding 0.1%.

The Philadelphia Housing Index dropped 1.1%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.2%.

Bitcoin (BTC-USD) dropped 0.6% to $71,060, and the yield for 10-year US Treasuries was little changed at 4.28%.

In economic news, US initial jobless claims rose to 229,000 in the week ended June 1 from an upwardly revised 221,000 level in the previous week, compared with expectations for a decrease to 220,000 in a Bloomberg survey.

The US international trade deficit widened to $74.56 billion in April from a $68.58 billion gap in March, but a smaller deficit than the $76.5 billion gap expected in a survey compiled by Bloomberg.

In corporate news, fines against Toronto-Dominion Bank ( MLWIQXX ) tied to US money-laundering probes may total as much as $4 billion following fresh allegations involving the lender, according to Jefferies Financial analysts, Bloomberg reported. The bank's shares rose 0.5%.

Robinhood (HOOD) acquired cryptocurrency exchange Bitstamp for $200 million in cash. Robinhood shares jumped 7.2%.

Arch Capital ( ACGL ) is on a solid long-term path to growth and profitability amid its focus on core tenets such as disciplined underwriting, prudent approach to risk, and diversification, Morgan Stanley said in a report. The investment firm reiterated its overweight rating on the stock while adjusting its price target to $116 from $115. Arch Capital ( ACGL ) shares added 0.1%.