01:51 PM EDT, 05/05/2025 (MT Newswires) -- Financial stocks edged up in Monday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both up 0.1%.

The Philadelphia Housing Index and the Real Estate Select Sector SPDR Fund (XLRE) both gained 0.1%.

Bitcoin (BTC-USD) fell 0.2% to $94,313, and the yield for 10-year US Treasuries rose 5.7 basis points to 4.371%.

In economic news, the Institute for Supply Management's US services index rose to 51.6 in April from 50.8 in March versus expectations for 50.3 in a Bloomberg survey.

In sector news, Michelle Bowman, nominated as the Federal Reserve's top bank regulator, is pushing to review confidential ratings of large US banks after criticizing last year's results that rated the banks poorly, the Wall Street Journal reported.

In corporate news, Berkshire Hathaway ( BRK/A ) (BRK.A, BRK.B) shares fell after Warren Buffett announced over the weekend that he would step down as chief executive officer. The company's Class A and Class B shares dropped 4%.

JPMorgan Chase ( JPM ) is expected to lead $5 billion in debt financing to back 3G Capital's $9.4 billion planned acquisition of Skechers (SKX), Bloomberg reported. JPMorgan ( JPM ) shares added 0.8%.

Citigroup ( C ) is increasing its lending to private equity and private credit firms after stepping back from the market for several years, Bloomberg reported. Citi shares added 1.1%.