03:31 PM EDT, 04/11/2024 (MT Newswires) -- Financial stocks eased in late Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both down 0.2%.

The Philadelphia Housing Index gained 1.2%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.4%.

Bitcoin (BTC-USD) dropped 0.8% to $70,064, and the yield for 10-year US Treasuries advanced 1 basis point at 4.57%.

In economic news, producer prices in March logged the biggest annual increase since April 2023, the Bureau of Labor Statistics reported Thursday, a day after hotter-than-expected consumer inflation data largely wiped out prospects for a June interest-rate cut.

In corporate news, the US Securities and Exchange Commission, the Office of the Comptroller of the Currency and other Treasury Department offices are investigating Morgan Stanley ( MS ) over how it vets clients who are at risk of laundering money through the bank's wealth-management division, The Wall Street Journal reported. Morgan Stanley ( MS ) shares tumbled 4.9%.

KKR (KKR) is offering a "compelling" investment opportunity among alternative asset managers, Oppenheimer said in a note. Oppenheimer maintained KKR's outperform rating and $103 price target. KKR shares gained 2.4%.

Globe Life ( GL ) shares plunged 52% as short seller Fuzzy Panda Research alleged that company executives disregarded insurance fraud.

BlackRock ( BLK ) lost an appeal related to the deductibility for UK tax purposes of interest payable on $4 billion of intra-group loans put in place in connection with its acquisition of Barclays Global Investors in 2009, according to a UK Court of Appeal decision Thursday. BlackRock ( BLK ) shares rose 0.5%.