03:51 PM EST, 01/06/2025 (MT Newswires) -- Financial stocks edged lower in late Monday afternoon trading, with the NYSE Financial Index easing 0.1% and the Financial Select Sector SPDR Fund (XLF) down 0.3%.

The Philadelphia Housing Index shed 0.3%, while the Real Estate Select Sector SPDR Fund (XLRE) fell 1.1%.

Bitcoin (BTC-USD) gained 3.7% to $102,030, and the yield for 10-year US Treasuries rose 2.9 basis points to 4.62%.

In economic news, new orders for US factory goods fell 0.4% in November, as expected in a survey compiled by Bloomberg, with a revised 0.5% increase in October.

The S&P Global US services index was revised downward to 56.8 in December from the 58.5 flash reading, compared with expectations for no revision in a survey compiled by Bloomberg.

In regulatory news, the Federal Reserve said Vice Chair for Supervision Michael Barr will step down, effective Feb. 28, but will remain a governor on the Federal Reserve Board.

In corporate news, HSBC ( HSBC ) said Monday that Lisa McGeough will become president and chief executive of the lender's US operations. HSBC ( HSBC ) shares rose 0.4%.

Goldman Sachs' ( GS ) business model continues to depend heavily on global banking and markets despite its efforts to enhance revenue durability and grow in higher-multiple segments, UBS Securities said in a note. UBS downgraded its rating on Goldman's stock to neutral from buy but raised its price target to $610 from $600. Goldman shares were rising 0.8%.

Navient ( NAVI ) shares rose 2.5%. The company agreed to sell its government services business to Gallant Capital Partners.

Berkshire Hathaway-owned (BRK.A) nonbank financing company Vanderbilt Mortgage & Finance is facing a lawsuit from the US Consumer Financial Protection Bureau over alleged risky home loans, the CFPB said Monday. Berkshire shares eased 0.8%.