Shares of banks and other lenders and money managers were higher.
Government-controlled mortgage giants Fannie Mae and Freddie Mac reported improved earnings in the third quarter, as record-low interest rates fueled a refinancing boom that buoyed the companies' results. The earnings are the latest evidence that the housing market remains a bright spot in the coronavirus-stricken economy. The number of houses going under contract in the U.S. decreased slightly in September from August's record high, data from the National Association of Realtors showed.
The European Central Bank intends to scale up its support of the eurozone's economy, seeking to cushion the region from the fallout of a new wave of coronavirus infections that threatens to knock back a currency area that was still recovering from spring lockdowns. A day after Europe's biggest economies -- Germany and France -- announced the toughest coronavirus restrictions since the spring, ECB President Christine Lagarde said the bank intended to further expand its massive monetary stimulus in December.
Leon Black, the billionaire chief executive of Apollo Global Management, offered a history of his ties to the late financier Jeffrey Epstein, his most detailed public account yet of a relationship that sparked renewed concern among his firm's shareholders and fund investors in recent weeks. Apollo also reported lower net income and distributable earnings for the quarter.
Carlyle Group's third-quarter earnings jumped as the value of investments in some of the firm's U.S. and Asia buyout funds posted strong appreciation, but the amount of cash that could be distributed to shareholders fell.
Credit Suisse said it would restart buying back shares next year as its capital base strengthened despite lower-than-expected third-quarter earnings.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
10-29-20 1739ET
