Shares of banks and other financial institutions were more or less flat amid mixed earnings.
State Street shares slid after the Boston provider of financial services to institutional investors logged lower profit in the fourth quarter, as expenses jumped.
PNC Financial Services rose after the regional bank posted earnings ahead of Wall Street targets.
M&T Bank posted higher fourth-quarter profit, boosted by growth in its net interest income and net interest margin.
Treasury yields hit a four-month high after President Trump suggested he may not nominate his economic adviser Kevin Hassett as Federal Reserve chairman. The yield on the benchmark 10-year Treasury note closed at the highest level since September 3 after the comment.
Bank executives such as Wells Fargo Chief Executive Charlie Scharf have voiced gentle opposition to President Trump's call to temporarily cap credit-card interest rates at 10%, seeking not to nettle the president.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-16-26 1713ET
