Financials Rally, on Deal, Equity Market Hopes - Financials Roundup
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Dow Jones
Shares of banks and other financial institutions rallied as traders bet asset managers and brokers would benefit from a boost to global stock and bond markets from Federal Reserve rate cuts.
Goldman Sachs Group rose by more than 3%, testing all-time highs amid hopes that a recent lull in deal activity.
Hedge-fund powerhouse Two Sigma is likely to pay as much as $100 million to settle a Securities and Exchange Commission investigation into a trading scandal at the firm, likely facing blame over how it oversaw an ex-employee who adjusted trading models without authorization.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
September 19, 2024 17:05 ET (21:05 GMT)
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