01:49 PM EDT, 05/28/2024 (MT Newswires) -- Financial stocks were decreasing in Tuesday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund (XLF) off 1.1%.

The Philadelphia Housing Index was falling 0.9% and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.1%.

Bitcoin (BTC-USD) was declining 3% to $68,044, and the yield for 10-year US Treasuries was rising 6.3 basis points to 4.54%.

In economic news, the Conference Board's measure of consumer confidence rose to 102.0 in May from a slightly upwardly revised 97.5 reading in April, well above a reading of 96.0 expected in a survey compiled by Bloomberg as of 7:35 am ET.

In corporate news, Riot Platforms ( RIOT ) said Tuesday it has proposed to buy Bitfarms ( BITF ) for $2.30 per Bitfarms ( BITF ) common share in a cash-and-stock deal representing an equity value of about $950 million. Riot shares rose 2.7% and Bitfarms ( BITF ) jumped 8.9%.

Eastern Bankshares ( EBC ) and Cambridge Bancorp ( CATC ) said Tuesday they have received all regulatory approvals for their proposed merger. Eastern Bankshares ( EBC ) rose less than 0.1% and Cambridge Bancorp ( CATC ) advanced 1%.

Bannix Acquisition ( BNIX ) fell 0.5% after it said Tuesday it has been notified that it is not in compliance with Nasdaq's requirements for continued listing for failure to timely file its quarterly report for the period ended March 31.