03:38 PM EST, 11/14/2024 (MT Newswires) -- Financial stocks eased in late Thursday afternoon trading with the NYSE Financial Index decreasing 0.2% and the Financial Select Sector SPDR Fund (XLF) off 0.1%.

The Philadelphia Housing Index rose 0.4%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.7%.

Bitcoin (BTC-USD) fell 2.2% to $88,509, and the yield for 10-year US Treasuries declined 3 basis points to 4.42%.

In economic news, the US producer price index rose 0.2% in October, faster than a 0.1% increase in September and as expected in a survey compiled by Bloomberg.

Weekly applications for unemployment insurance dropped to the lowest since May, while continuing claims retracted, according to US government data. The seasonally adjusted number of initial claims dropped 4,000 to 217,000 in the week ended Saturday, the lowest since May 18, according to the Department of Labor. The consensus was for 220,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Citigroup ( C ) is under investigation by the US Department of Justice, FBI and IRS due to connections with a sanctioned Russian official, Bloomberg reported. Citi shares fell 1.1%.

Charles Schwab ( SCHW ) shares gained 2.1%. Total client assets reached $9.85 trillion in October, up 29% from a year earlier and down 1% from September.

Bread Financial ( BFH ) reported an October delinquency rate of 6.4%, down from 6.5% a year earlier. The shares added 0.5%.

LM Funding America ( LMFA ) agreed to buy the business assets of a 15-megawatt cryptocurrency mining site in Oklahoma from a joint venture majority owned by Arthur Inc. for $7.3 million. LM Funding shares fell 1.7%.