02:44 PM EDT, 06/02/2025 (MT Newswires) -- Financial stocks declined in Monday afternoon trading, with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) each shedding about 0.3%.

The Philadelphia Housing Index was falling 1.5%, and the Real Estate Select Sector SPDR Fund (XLRE) decreased 0.3%.

Bitcoin (BTC-USD) was easing 0.2% at $104,374, and the yield for 10-year US Treasuries was rising 5 basis points to 4.47%.

In US economic news, the Institute for Supply Management's US manufacturing index fell to 48.5 in May from 48.7 in April, against expectations for 49.5 in a Bloomberg-compiled survey.

Separately, US construction spending fell 0.4% in April, versus a 0.2% increase expected in a survey compiled by Bloomberg and a downwardly revised 0.8% decline in March.

In corporate news, Morgan Stanley ( MS ) is arranging a $5 billion debt package for Elon Musk's AI firm xAI, Bloomberg reported. Morgan Stanley ( MS ) shares up 0.1%.

JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon's retirement is "several years away," the executive said in a Fox Business interview on Monday. JPMorgan ( JPM ) shares added 0.3%.

BlackRock ( BLK ) is planning to expand access to its private-market investment products for individual investors in Europe, the Middle East and Africa, Bloomberg reported, citing an interview with Fabio Osta, head of a team for BlackRock's ( BLK ) EMEA wealth unit. BlackRock ( BLK ) shares were down 0.4%.