Financial Stocks Dip as Bitcoin and Yields Rise

Financial stocks took a late afternoon dip on Thursday, with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each down less than 0.1%. The Philadelphia Housing Index saw a more significant drop of 0.9%, while the State Street Real Estate Select Sector SPDR ETF (XLRE) lost 0.1%.

Bitcoin's price was also slightly lower, trading at $84,507, and the yield for 10-year US Treasuries climbed 7.8 basis points to 5.19%. In economic news, initial jobless claims fell to 197,000 in the week ended Sept. 19 from an upwardly revised 198,000.

New-home sales rose to an annual rate of 684,000 in August, above expectations for 616,000. The Kansas City Fed monthly manufacturing index also improved, rising to 14 in September from 10 in August.