Shares of financial companies fell as the market prices in a greater chance of a rate hike this year following Wednesday's rate hold by the Federal Reserve.
Individual investors accelerated their withdrawal requests from once-hot private-credit funds in the second quarter, adding to the squeeze the industry is facing as fundraising slows and money heads for the exit. So far, investors in four large credit funds, including those managed by Blackstone and BlackRock, have requested to redeem about $12 billion in the second quarter, up from $7.7 billion the previous quarter, according to data from the investment bank Robert A. Stanger & Co.
Deluxe, one of the largest paper-check producers, is acquiring payment-processing company Celero Commerce for $625 million in cash.
CME Group sued the top U.S. derivatives regulator Thursday to thwart Kalshi, an upstart prediction-markets platform, from encroaching on its turf as the nation's leading futures exchange.
Write to Patrick Sullivan at patrick.sullivan@wsj.com
