Shares of banks and other financial institutions rose as traders bet a private-credit scare could be contained.

One strategist said he was watching for signs that write-downs on private-credit assets had spread from the firms themselves to major banks before sounding the alarm on broader financial stress.

"Part of this business is always looking for the canary in the coal mine," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "Sometimes it's something small that results in something larger...It is a potential negative, something we need to pay attention to."

Shares of Ares Management fell ahead of the private-credit manager's earnings. Rivals Blackstone, Apollo Global and Blue Owl also fell.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

04-27-26 1703ET