01:54 PM EDT, 06/13/2024 (MT Newswires) -- Financial stocks were decreasing in Thursday afternoon trading, with the NYSE Financial Index shedding 0.6% and the Financial Select Sector SPDR Fund (XLF) off 0.3%.

The Philadelphia Housing Index was down 0.2%, while the Real Estate Select Sector SPDR Fund (XLRE) was adding 0.8%.

Bitcoin (BTC-USD) was declining 4.3% to $66,656, and the yield for 10-year US Treasuries was dropping 5.5 basis points to 4.24%.

In economic news, the US producer price index fell 0.2% last month, swinging from a 0.5% gain in April. The Bloomberg-polled consensus was for a 0.1% increase.

Separately, initial jobless claims increased by 13,000 to 242,000 in the week ended June 8. The consensus was for a dip to 225,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Bitfarms ( BITF ) late Wednesday said it had rejected an unsolicited takeover bid from Riot Platforms ( RIOT ) made on April 22, saying the offer "significantly undervalues Bitfarms ( BITF ) and is not in the best interest of shareholders." Bitfarms ( BITF ) shares jumped nearly 15% and Riot shares were up 0.8%.

Ares Management ( ARES ) is in talks to merge with GLP Capital's operations outside China in a deal that would bring $66 billion of assets to Ares, Bloomberg reported Thursday. Separately, Ares priced a public offering of about 2.7 million shares of its class A common stock at $134.75 per share. Ares shares were falling 3.3%.

BlackRock ( BLK ) , Global Infrastructure Partners and Brookfield Asset Management ( BAM ) will jointly commit at least $4 billion as part of a private-capital infrastructure push in the developing world, Bloomberg reported Thursday, citing Biden administration officials. BlackRock ( BLK ) shares were down 0.1% and Brookfield shares fell 1.1%.