01:40 PM EDT, 06/20/2024 (MT Newswires) -- Financial stocks were edging higher in Thursday afternoon trading, with the NYSE Financial Index adding 0.1% and the Financial Select Sector SPDR Fund (XLF) up 0.2%.

The Philadelphia Housing Index was falling 1%, and the Real Estate Select Sector SPDR Fund (XLRE) was down 0.3%.

Bitcoin (BTC-USD) was easing 0.7% to $64,720, and the yield for 10-year US Treasuries was rising four basis points to 4.26%.

In economic news, US initial jobless claims declined to 238,000 in the week ended June 15 from an upwardly revised 243,000 in the previous week, compared with expectations for 235,000 in a survey of analysts compiled by Bloomberg.

Separately, May housing starts fell 5.5% from the previous month to a 1.277 million annual rate, compared with expectations compiled by Bloomberg for a 1.37 million rate after an increase to a 1.352 million pace in April.

In other news, the US Supreme Court upheld a 2017 tax on American-owned businesses' foreign profits by a 7-2 vote. Known as the Mandatory Repatriation Tax, the tax imposed a rate ranging from 8% to 15.5% on the pro rata shares of American shareholders.

In corporate news, Carlyle (CG) and KKR (KKR) are the top bidders for Discover Financial Services' ( DFS ) $10 billion US student loan portfolio, the Financial Times reported on Thursday. Carlyle shares rose 1.7%, KKR was down 1%, and Discover was shedding 0.1%.