Shares of banks and other financial institutions rose, but not by as much as the broad market, amid anticipation of a drop in Treasury yields.
A gradual retreat in interest rates could be a positive development for a banking sector, as concerns about commercial real-estate mortgages would subside. A sharp drop in Treasury yields, which could be triggered by an early rate cut from the Fed, would weigh on banks' interest income, however.
JPMorgan Chase shares were flat ahead of its earnings report Friday.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-10-24 1829ET
