Financial stocks were advancing in Monday afternoon trading, with the NYSE Financial Index adding 0.4% and the Financial Select Sector SPDR Fund (XLF) up 0.3%.

The Philadelphia Housing Index was down 0.6%, while the Real Estate Select Sector SPDR Fund (XLRE) was increasing 0.3%.

Bitcoin (BTC-USD) was shedding 0.3% to $105,323, and the yield for 10-year US Treasuries was rising 4.2 basis points to 4.48%.

In economic news, Moody's downgraded the US government's credit ratings amid rising debt and fiscal deficits, but revised its outlook to stable from negative.

The Conference Board's measure of leading indicators fell by 1% in April, compared with expectations for a 0.9% decrease in a Bloomberg-compiled survey and a 0.8% decline in March.

In corporate news, BGC (BGC) said it has agreed to repurchase nearly 16.5 million shares of its class A stock that is owned by its former Chair and Chief Executive, Howard Lutnick, who is now the US Secretary of Commerce. BGC shares jumped 8%.

TXNM Energy (TXNM) agreed to be acquired by Blackstone's (BX) infrastructure arm in a deal with a total enterprise value of about $11.5 billion. TXNM was up 7%.

JPMorgan Chase (JPM) shares were shedding 0.6%. The firm said it's expecting a 2026 card net charge-off rate in the range of about 3.6% to 3.9%.