Financial stocks were down in late Thursday afternoon trading, with the NYSE Financial Index falling 0.2% and the Financial Select Sector SPDR Fund (XLF) shedding 0.2%.

The Philadelphia Housing Index was down 0.3%, and the Real Estate Select Sector SPDR Fund (XLRE) rose 0.1%.

Bitcoin (BTC-USD) was falling 2.5% to $102,161, and the yield for 10-year US Treasuries rose 3 basis points to 4.39%.

In economic news, Chinese President Xi Jinping told US President Donald Trump to remove "negative" measures in trade negotiations and said that Trump was welcome to visit China, Bloomberg reported Thursday, citing a transcript of the phone conversation between the leaders published by China's state broadcaster. Xi agreed to more trade talks, the report added.

US initial jobless claims rose to a level of 247,000 in the week ended May 31 from a downwardly revised 239,000 level in the previous week, compared with expectations for a decrease to 235,000 in a survey of analysts compiled by Bloomberg.

The US international trade deficit narrowed significantly to $61.62 billion in April from a $138.32 billion gap in March, narrower than the $66 billion gap expected in a survey compiled by Bloomberg.

In corporate news, Blackstone (BX) is among the bidders shortlisted to buy the CityQuartier Trocadero building in Paris for 700 million euros ($800 million), Reuters reported. Blackstone shares were down 0.9%.

Hamilton Insurance (HG) shares fell 5.2% after BMO Capital downgraded the stock to market perform from outperform.

TPG's (TPG) credit and real estate investment unit TPG Angelo Gordon will be an anchor investor in a loan package for xAI, Elon Musk's AI startup, Bloomberg reported. TPG shares rose 0.5%.

JPMorgan Chase (JPM) and Morgan Stanley (MS) are arranging a $350 million project financing for TeraWulf (WULF), which the two banks plan to sell to private credit firms, Bloomberg reported. JPMorgan shares were down 1.1%, while Morgan Stanley rose 1.7%.