Shares of banks and other financial institutions rose amid optimism about the prospects of a soft landing.

Block shares rallied after the owner of the Square financial-technology company unexpectedly posted a profit for the latest quarter.

British-based, Asia-focused lender Standard Chartered unveiled a $1 billion buyback and forecast higher income this year after it posted a quarterly earnings beat on the back of topline growth, lower impairments, and the sale of its aviation finance business.

The estate of disgraced cryptocurrency exchange FTX agreed to drop a lawsuit that sought to claw back at least $323.5 million from the original owners of its European unit.

Write to Rob Curran at

(END) Dow Jones Newswires

02-23-24 1803ET