Shares of banks and lenders gained.
Stocks tend to rise at the start of new calendar periods, like the beginning of a new year, because of "new money" like pension funds that invest when a new period starts.
"Today looks like a classic reopening," said LPL Financial market strategist Scott Brown.
Bridgewater Associates named two new co-chief executives to head the world's largest hedge fund after CEO David McCormick told staff he would be stepping down to consider running for the U.S. Senate in Pennsylvania.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
01-03-22 1721ET
