Financial stocks posted small gains as investors were still speculating how markets will behave with less guidance from the Federal Reserve, after new Chairman Kevin Warsh said last week he wants to review the central bank's communications with the public. Volatility is expected.
Morgan Stanley is considering plans for a $1.33 billion operational hub in Dallas. The bank's plans would involve an investment of about $684.2 million in the proposed 708,000 square foot building, with the developer investing another $650 million, according to a draft resolution in front of Dallas's city council.
Alan Greenspan, who served as Federal Reserve chairman for 18.5 years under four presidents, died Monday at age 100 from complications of Parkinson's disease. Current Fed Chairman Warsh has been studying the 1990s, when Greenspan adjusted monetary policy to a tech-driven productivity boom-a template that bears on how the Fed navigates today's AI buildout.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
