Shares of banks and other financial institutions rose amid deal activity and economic optimism.
Credit-card issuer Capital One Financial agreed to buy financial-technology firm Brex for $5.15 billion in cash and stock, as it seeks more corporate clients.
BitGo shares surged almost 25% on the start of their first day of trading on the New York Stock Exchange as the provider of wallet and custody services for cryptocurrency investors sold $212.8 million of shares in an initial public offering.
One strategist said recent data points to a period of "inflationary growth" for the U.S. economy.
"This is likely going to keep the Fed on pause for a few a months, at least until we get a new Fed Chair who will likely push for renewed cuts," said Sonu Varghese, global macro strategist at financial consultancy firm Carson Group.
President Trump sued JPMorgan Chase for $5 billion on Thursday, alleging the nation's biggest bank improperly closed his accounts over an unsubstantiated "woke" belief that it needed to distance itself from him after the Jan. 6, 2021, Capitol riot.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-22-26 1717ET
