Financial stocks edged lower in Thursday afternoon trading with the NYSE Financial Index shedding 0.2% and the Financial Select Sector SPDR Fund (XLF) easing 0.1%.

The Philadelphia Housing Index dropped 0.7%, and the Real Estate Select Sector SPDR Fund (XLRE) added 0.2%.

Bitcoin (BTC-USD) rose 1.2% to $101,605, and the yield for 10-year US Treasuries gained 3.7 basis points to 4.31%.

In economic news, the US producer price index increased 0.4% month over month on a seasonally adjusted basis in November, above the 0.2% Bloomberg-polled consensus estimate.

US initial jobless claims last week rose to 242,000 from an upwardly revised 225,000 in the previous week, compared with expectations for a drop to 220,000 in a survey compiled by Bloomberg.

In sector news, the US Consumer Financial Protection Bureau adopted new rules capping overdraft fees at $5 per transaction for banks with over $10 billion in assets. The rule is expected to save depositors $5 billion annually, the bureau said.

In corporate news, Blackstone (BX) agreed to acquire a mixed-use property asset in central Tokyo from Japanese hotel and railway operator Seibu Holdings for $2.6 billion. Blackstone shares fell 1.5%.

Activist investor Starboard Value built a large position in Riot Platforms (RIOT) and is looking to make changes at the bitcoin mining operator, The Wall Street Journal reported. Riot shares jumped 11%.

JPMorgan Chase (JPM) plans to expand its Buenos Aires corporate center by adding 1,500 workers over the next five years, Bloomberg reported. JPMorgan shares fell 0.8%.