03:49 PM EDT, 06/13/2024 (MT Newswires) -- Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index shedding 0.5% and the Financial Select Sector SPDR Fund (XLF) off 0.1%.

The Philadelphia Housing Index rose 0.4%, while the Real Estate Select Sector SPDR Fund (XLRE) climbed 0.6%.

Bitcoin (BTC-USD) dropped 2.2% to $66,766, and the yield for 10-year US Treasuries lost 6 basis points to 4.24%.

In economic news, the US producer price index fell 0.2% last month, swinging from a 0.5% gain in April. The Bloomberg consensus of analysts was for a 0.1% increase.

Separately, initial jobless claims increased 13,000 to 242,000 in the week ended Saturday. The consensus was for a drop to 225,000, a Bloomberg survey of analysts showed.

In corporate news, JPMorgan Chase's ( JPM ) asset-management arm raised more than $500 million for a biotech venture-capital fund focused on weight-loss drugs, Bloomberg reported. JPMorgan ( JPM ) shares added 1.2%.

Wells Fargo ( WFC ) fired more than a dozen workers last month after probing claims they were simulating keyboard activity to give the impression they were actively working, Bloomberg reported. Wells Fargo ( WFC ) shares rose 0.2%.

Bitfarms ( BITF ) said late Wednesday it rejected an unsolicited takeover bid from Riot Platforms ( RIOT ) on April 22 because the offer "significantly" undervalued Bitfarms ( BITF ). Shares of Bitfarms ( BITF ) jumped 16% and Riot climbed 1.9%.

Ares Management ( ARES ) is in talks to merge with GLP Capital's operations outside China in a deal that would bring $66 billion of assets to Ares, Bloomberg reported. Separately, Ares priced a public offering of 2.7 million shares of its class A common stock at $134.75 each. Ares shares fell 2.9%.