03:47 PM EDT, 06/20/2024 (MT Newswires) -- Financial stocks advanced in late Thursday afternoon trading, with the NYSE Financial Index adding 0.4% and the Financial Select Sector SPDR Fund (XLF) up 0.5%.

The Philadelphia Housing Index shed 0.5%, and the Real Estate Select Sector SPDR Fund (XLRE) eased 0.3%.

Bitcoin (BTC-USD) was up 0.1% at $64,944, and the yield for 10-year US Treasuries rose 3.7 basis points to 4.25%.

In economic news, US initial jobless claims last week declined to 238,000 from an upwardly revised 243,000 in the previous week, compared with expectations for 235,000 in a survey of analysts compiled by Bloomberg.

Separately, May housing starts fell 5.5% from the previous month to a 1.277 million annual rate, compared with expectations compiled by Bloomberg for a 1.37 million rate.

In other news, the US Supreme Court upheld a 2017 tax on US-owned businesses' foreign profits by a 7-2 vote. Known as the Mandatory Repatriation Tax, the tax imposed a rate of 8% to 15.5% on the pro rata shares of American shareholders.

In corporate news, Bread Financial ( BFH ) jumped 8.4% after RBC and Evercore ISI lifted their respective price targets on the company following its investor day.

Ares Management ( ARES ) co-founder Tony Ressler was among the investors who took part in Pershing Square's sale of a 10% stake in the firm for $1.05 billion, Bloomberg reported Thursday. Ares shares were down 0.4%.

Tradeweb Markets ( TW ) rose 0.3% as it said Thursday that President Thomas Pluta will leave the company and its board, effective Sept. 30, as part of organizational changes.

Citigroup's ( C ) Citigroup Global Markets Europe AG unit was fined 13 million euros ($13.9 million) by Germany's Federal Financial Supervisory Authority over issues with its trading systems in 2022 that led to a market disruption, the regulator said. Citigroup ( C ) shares fell 0.4%.