02:01 PM EDT, 06/04/2025 (MT Newswires) -- Financial stocks were softer in Wednesday afternoon trading, with the NYSE Financial Index fractionally lower and the Financial Select Sector SPDR Fund (XLF) down 0.2%.

The Philadelphia Housing Index was climbing 1.9%, and the Real Estate Select Sector SPDR Fund (XLRE) was up 0.6%.

Bitcoin (BTC-USD) was easing 0.7% to $105,219, and the yield for 10-year US Treasuries was down 10.3 basis points to 4.36%.

In economic news, the Institute for Supply Management's US services index fell to 49.9 in May from 51.6 in April, compared with expectations of a rise to 52 in a Bloomberg survey.

ADP Institute's employment report showed a 37,000 rise in private payrolls for May following a 60,000 increase in the preceding month, compared with estimates compiled by Bloomberg for a 114,000 gain.

In corporate news, Rocket's (RKT) planned $1.75 billion acquisition of Redfin (RDFN) is facing scrutiny from a group of US senators, who asked antitrust regulators why they had not challenged the deal, Reuters reported, citing a letter from the senators. Rocket shares fell 1.3%, and Redfin was down 1.6%.

JPMorgan Chase ( JPM ) could soon allow trading and wealth management clients to secure financing against cryptocurrency-linked assets as collateral, Bloomberg reported. JPMorgan ( JPM ) shares were down 0.4%.

Wells Fargo ( WFC ) shares rose 0.4%. The company said late Tuesday that the Federal Reserve lifted the asset cap on the bank that was put in place in 2018.