Financials Up as Money Managers Gain on Strong Markets — Financials Roundup
Shares of banks and other financial institutions rose slightly as traders bet the sector would benefit from rising stock and bond markets.
The two-year Treasury yields saw their largest quarterly decline since 2020, while stock indexes also gained sharply for the quarter.
BlackRock shares finished at all-time highs, up 18% for the year as the world's largest money manager by assets under management was set to see higher fees from in-flows and market gains in its mutual-fund and exchange-traded funds.
Another investment giant, Fidelity Investments, put stricter guardrails on the deposits customers make through its mobile app, hitting back against an alleged check-fraud scheme that targeted the investing giant earlier this month.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
September 27, 2024 17:44 ET (21:44 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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