Shares of banks and other financial institutions rose sharply as traders bet the combination of easing inflation, rising economic growth, and falling interest rates would boost bank profitability.
Credit-card spending per household rose 1.1% year-over-year in the week ending March 16, according to a survey from Bank of America Global Research.
Accenture shares plunged after the management consultant cut its full-year earnings outlook as clients pull further back on spending and as corporate decision-making continues to get delayed.
U.K. home lender Nationwide Building Society agreed to buy rival Virgin Money for about $3.7 billion, confirming reports earlier this month.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-21-24 1745ET
