Shares of banks and other financial institutions rose amid signs that the Trump administration is gauging stock market response to its policies.
During the recent stock market correction, investors had given up on hopes that Treasury Secretary Scott Bessent and President Donald Trump would take market reactions into account when planning trade and economic policy.
As an April 2 deadline for new tariff rules approaches, Trump is striking a less uncompromising tone and hinting at much narrower-than-anticipated impositions of imoprt duties.
One brokerage warned that "huge uncertainty" still remains.
"We still think immigration is an underappreciated drag on the economy, and markets substantially overestimate both the likely speed of deregulation and its ability to push growth," said economists at brokerage Morgan Stanley, in a note to clients. "Ultimately ... the world is still connected, so tariffs will hurt not only global trade, but also corporate confidence, and the slowdown we expect in the U.S. will weigh on other economies."
Business-analytics firm Dun & Bradstreet Holdings agreed to be acquired by private equity firm Clearlake Capital Group in a transaction valued at $7.7 billion, including outstanding debt.
Activist investment firm Elliott Investment Management has built a stake in Japanese property developer Sumitomo.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
March 24, 2025 17:09 ET (21:09 GMT)
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