Financial stocks were advancing in Thursday afternoon trading, with the NYSE Financial Index up 0.2% and the Financial Select Sector SPDR Fund (XLF) 0.1% higher.

The Philadelphia Housing Index was adding 0.6%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.4%.

Bitcoin (BTC-USD) was declining 2.1% to $95,814, and the yield for 10-year US Treasuries was dropping 9 basis points to 4.55%.

In economic news, the US Producer Price Index rose by 0.4% in January, slower than an upwardly revised 0.5% gain in December, but above the 0.3% increase expected in a survey compiled by Bloomberg.

US initial jobless claims fell to 213,000 in the week ended Feb. 8 from an upwardly revised 220,000 level in the previous week, compared with expectations for a smaller decrease to 216,000 in a survey of analysts compiled by Bloomberg.

In corporate news, Banco Santander (SAN) discussed a potential sale of its UK retail business with NatWest (NWG), the Financial Times reported. Santander shares were down 1.1% and NatWest was falling 3.2%.

Morgan Stanley (MS) is looking to boost the size of its latest X Holdings debt offering, Bloomberg reported. Morgan Stanley shares decreased 0.2%.

KKR (KKR) is considering making an investment in Nissan after the automaker's talks with fellow Japanese company Honda (HMC) fell through, Bloomberg reported. KKR shares fell 0.7%.