Financials Up on Soft Landing Hopes — Financials Roundup
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Dow Jones
Shares of banks and other financial institutions rose as traders bet a rally in stock and bond markets would continue.
Two Federal Reserve officials, Atlanta Fed President Raphael Bostic and Minnesota Fed President Neel Kashkari, said the labor market is not yet in dire straits, suggesting that an equity-market friendly "soft landing" was still in play.
In the latest intrigue in a cross-border banking deal saga, German premier Olaf Scholz rose to Commerzbank's defense after Italian suitor UniCredit moved to speed along a possible takeover.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
September 23, 2024 18:07 ET (22:07 GMT)
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