01:46 PM EDT, 08/01/2024 (MT Newswires) -- Financial stocks were retreating in Thursday afternoon trading, with the NYSE Financial Index dropping 1.8% and the Financial Select Sector SPDR Fund (XLF) falling 1.5%.

The Philadelphia Housing Index was falling 2%, while the Real Estate Select Sector SPDR Fund (XLRE) was up 1.1%.

Bitcoin (BTC-USD) was declining 3.2% to $62,526, and the yield for 10-year US Treasuries was dropping 12 basis points to 3.99%.

In economic news, the Institute for Supply Management's US manufacturing index declined to 46.8 in July from 48.5 in June, compared with expectations for 48.8 in a survey compiled by Bloomberg.

US initial jobless claims rose to 249,000 in the week ended July 27 from 235,000 in the previous week, compared with expectations for 236,000 in a Bloomberg survey.

In corporate news, Fifth District Bancorp (FDSB) shares were rising 2% in recent trading after its debut on Nasdaq.

Patria Investments ( PAX ) shares fell more than 6% after the company posted lower Q2 distributable earnings and revenue.

Santander (SAN) has won a key approval to expand in Canada, where the Spanish bank already has a presence in auto finance, Bloomberg reported Thursday. Santander shares were shedding 5.6%.