01:51 PM EDT, 06/05/2024 (MT Newswires) -- Financial stocks were decreasing in Wednesday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) also down 0.1%.

The Philadelphia Housing Index was rising 1%, and the Real Estate Select Sector SPDR Fund (XLRE) was 0.2% lower.

Bitcoin (BTC-USD) was increasing 1.3% to $71,432, and the yield for 10-year US Treasuries was declining 4 basis points to 4.30%.

In economic news, the Institute for Supply Management's US services index rose to 53.8 in May from 49.4 in April, compared with expectations for 51 in a survey compiled by Bloomberg.

Meanwhile, based on ADP Institute's employment report, private payrolls climbed 152,000 in May versus estimates compiled by Bloomberg for a 175,000 jump.

In regulatory news, the US Fifth Circuit Court of Appeals in New Orleans on Wednesday struck down the US Securities and Exchange Commission's rules mandating that hedge funds and private equity firms disclose quarterly fees and expenses to investors, according to media reports.

In corporate news, Riot Platforms ( RIOT ) shares fell 2.5% after Kerrisdale Capital disclosed a short position in the bitcoin miner.

S&P Global ( SPGI ) and BlackRock ( BLK ) are among a slew of firms interested in data provider Preqin as it explores a sale, media outlets reported. The deal could value the UK company at more than 1 billion British pounds ($1.28 billion), the Financial Times reported. S&P Global ( SPGI ) shares rose 0.3% and BlackRock ( BLK ) was slightly lower.

Willis Towers Watson ( WTW ) shares were down 0.3%. The firm said it's collaborating with Guidewire Software ( GWRE ) to accelerate cloud platform integration, enabling insurance carriers to improve pricing, rating and underwriting efficiency.