Shares of banks and other financial institutions rose as traders hedged their bets on the outlook for Treasury yields.

The price of bitcoin leapt amid anticipation that the Securities and Exchange Commission will approve the first exchange-traded fund with direct bitcoin holdings.

Cadence Bank shares rose after the Mississippi lender agreed to sell its insurance brokerage unit to Illinois brokerage Arthur J. Gallagher for $904 million.

WR Berkley shares rallied after the insurance holding company said increased investment income and premium growth bolstered third-quarter profit.

Write to Rob Curran at

(END) Dow Jones Newswires

10-24-23 1747ET