03:46 PM EDT, 05/16/2024 (MT Newswires) -- Financial stocks were edging higher in late Thursday afternoon trading, with the NYSE Financial Index up less than 0.1% and the Financial Select Sector SPDR Fund (XLF) adding 0.2%.

The Philadelphia Housing Index was falling 2.4% and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.2%.

Bitcoin (BTC-USD) fell 1.2% to $65,277, and the yield for 10-year US Treasuries was rising 2.5 basis points to 4.38%.

In economic news, US initial jobless claims fell to 222,000 in the week ended May 11 from an upwardly revised 232,000 level in the previous week, compared with expectations for a larger decrease to 220,000 in a Bloomberg survey.

US industrial production held steady in April, below expectations for a 0.1% increase in a Bloomberg survey.

In corporate news, Medical Properties Trust ( MPW ) said Thursday it received a noncompliance notice from the New York Stock Exchange for not meeting the timely filing criteria for continued listing on the exchange. Its shares fell 4.2%.

CME (CME) is planning to introduce spot bitcoin trading on its platform, the Financial Times reported. Its shares rose 2.1%.

Banco Sabadell Chief Executive Cesar Gonzalez-Bueno said Thursday that Banco Bilbao Vizcaya Argentaria ( BBVA ) is underestimating the restructuring costs it would face if it were to acquire Sabadell, Bloomberg reported. BBVA shares fell 3.3%.

American International Group ( AIG ) said it has agreed to sell a 20% stake of Corebridge Financial ( CRBG ) to Nippon Life Insurance for $31.47 per share, for a total of $3.8 billion. Corebridge shares climbed 7.9% and AIG shares were fractionally lower.

Charles Schwab ( SCHW ) said Thursday that Chief Financial Officer Peter Crawford has decided to retire and will be succeeded by Mike Verdeschi, who will join the company on May 20 as deputy chief financial officer. Its shares fell 0.4%.