Sector Update: Financial

Financial stocks fell in late Thursday afternoon trading with the NYSE Financial Index and the Financial Select Sector SPDR Fund (XLF) both down 0.3%.

The Philadelphia Housing Index eased 0.1%, and the Real Estate Select Sector SPDR Fund (XLRE) shed 0.5%.

Bitcoin (BTC/USD) rose 0.7% to $64,690, and the yield for 10-year US Treasuries climbed 5 basis points to 4.71%.

In economic news, US gross domestic product rose 1.6% in Q1 after a 3.4% increase in Q4, slower than a 2.5% gain expected in a survey compiled by Bloomberg as of 7:45 am ET.

Initial jobless claims fell sequentially to 207,000 in the week ended April 20 from an unrevised 212,000, compared with expectations for an increase to 215,000 in a survey of analysts compiled by Bloomberg as of 7:45 am ET.

In corporate news, Live Oak Bancshares LOB shares tumbled 16%, a day after the company reported earnings and revenue that trailed estimates by analysts.