03:44 PM EDT, 10/10/2024 (MT Newswires) -- Financial stocks were lower in late Thursday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each shedding 0.6%.

The Philadelphia Housing Index dropped 1.4%, and the Real Estate Select Sector SPDR Fund (XLRE) fell 1.1%.

Bitcoin (BTC-USD) was shedding 2% to $63,126, and the yield for 10-year US Treasuries was rising 3 basis points to 4.07%.

In economic news, the consumer price index increased 0.2% in September, the same as in July and August, the Bureau of Labor Statistics said Thursday. The latest reading was ahead of the 0.1% increase forecast in a Bloomberg-compiled survey. Annually, inflation cooled to 2.4% from August's 2.5% but was above the 2.3% Wall Street consensus.

Core inflation grew by 0.3% in September, the same as in August but ahead of analysts' forecast for a 0.2% gain. At the annual level, core inflation increased to 3.3%, above the 3.2% Bloomberg consensus.

US initial jobless claims jumped to 258,000 in the week ended Oct. 5 from an unrevised 225,000 in the previous week, above the expectations for 230,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Toronto-Dominion Bank ( MLWIQXX ) said Thursday it will pay about $3.09 billion as part of resolutions for US anti-money laundering program failures and took full responsibility. Toronto-Dominion shares dropped 5.5%.

Blue Owl Capital (OWL) has agreed to buy up to $2 billion in consumer installment loans from Upstart (UPST) over the next 18 months, Upstart said Thursday. Blue Owl shares were rising 1.5% while Upstart added 0.3%.

LendingClub ( LC ) shares jumped 6% after Keefe Bruyette & Woods upgraded the company's stock to outperform from market perform and raised its price target to $15 from $11.50.

HSBC ( HSBC ) Chief Executive Georges Elhedery plans to lay off senior bankers to reduce as much as $300 million, the Financial Times reported. HSBC ( HSBC ) shares added 0.1%.