Shares of banks and other financial institutions ticked up as investors digested the optimistic message from Federal Reserve Chairman Jerome Powell.
Treasury yields continued to decline, suggesting that markets are accepting Mr. Powell's message that a recent resurgence in inflation has not yet reached the threshold to necessitate a shift in the Fed's policy plans.
Shares of Japanese trading houes Sumitomo rose after reports that U.S. hedge fund Elliott Management built a stake one of the firms that Warren Buffett had previously invested in.
Chubb, the insurer of the collapsed Francis Scott Key Bridge in Baltimore, is preparing to make a $350 million payout to Maryland, paying the full amount of the coverage quickly rather than waiting for the rebuilding to begin.
A Justice Department investigation into TD Bank's internal controls focuses on how Chinese crime groups and drug traffickers used the Canadian lender to launder money from U.S. fentanyl sales.
Apollo Global Management posted a sharp rise in first-quarter earnings after the Wall Street investment firm benefited from an increase in assets under management.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-02-24 1714ET
