Shares of banks and other financial institutions ticked up amid concerns about a resurgence of volatility in global markets.
"Market volatility has resurfaced amid renewed uncertainty surrounding trade policy and the fiscal outlook," said Solita Marcelli, chief investment officer Americas at money manager UBS Global Wealth Management.
"With bond yields elevated and tariff and budget risks in focus, this volatility may persist as investors monitor further developments in policy," Marcelli said.
Canadian lender Toronto-Dominion Bank's earnings soared in the first quarter following the exit from its investment in Charles Schwab, though loan-loss provisions were on the rise and the bank cautioned the economic outlook had weakened in the wake of President Trump's tariffs.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
05-22-25 1857ET
