Shares of banks and other lenders and money managers rose alongside Treasury yields after comments from Federal Reserve Chairman Jerome Powell.
The yield on the 10-year Treasury note rose for the eighth time in nine sessions.
The U.S. is a long way from a strong job market, Mr. Powell said, an indication that the central bank's easy-money policies will remain in place for the foreseeable future.
Investing pioneer James Simons is stepping back from his quant hedge fund, Renaissance Technologies. Several weeks ago, Mr. Simons -- a former math professor and code breaker who built Renaissance into one of the most successful investment firms in history -- told clients he was stepping down as chairman of the firm's board of directors as of Jan. 1.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-14-21 1730ET
