03:57 PM EDT, 09/18/2024 (MT Newswires) -- Financial stocks were mixed in late Wednesday afternoon trading with the NYSE Financial Index up 0.1% and the Financial Select Sector SPDR Fund (XLF) down 0.2%.

The Philadelphia Housing Index dropped 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 0.3%.

Bitcoin (BTC-USD) added 0.5% to $60,700, and the yield for 10-year US Treasuries rose 4.3 basis points to 3.685%.

In economic news, the Federal Reserve's monetary policy committee on Wednesday lowered its benchmark lending rate by 50 basis points, its first cut since March 2020. The Federal Open Market Committee cut interest rates to a range of 4.75% to 5%, versus a Bloomberg-compiled consensus indicating a 5% to 5.25% range.

In corporate news, Vista Equity Partners engaged Evercore ( EVR ) to sell Finastra's treasury and capital markets business, Bloomberg reported. Evercore ( EVR ) shares added 0.7%.

OceanFirst Financial ( OCFC ) shares gained 0.9%. The company's OceanFirst Bank unit will invest a minimum of $14 million in a loan subsidy fund to settle a US Department of Justice lawsuit alleging illegal redlining in central New Jersey, Reuters reported.

Synchrony Financial ( SYF ) announced a partnership with Albertsons (ACI) allowing consumers to use its CareCredit credit card to pay for drug prescriptions and over-the-counter health and wellness items at the retailers' 2,200 stores. Synchrony shares fell 0.6%, and Albertsons was little changed.

First Horizon's ( FHN ) First Horizon Advisors agreed to pay a $325,000 fine to settle charges by the US Securities and Exchange Commission over alleged failures to enforce policies to comply with Regulation Best Interest requirements. First Horizon ( FHN ) shares fell 0.1%.