Shares in the financial sector edged higher as Federal Reserve officials kept reinforcing the central bank's pledge to fight inflation.
U.S. Bancorp notched record second-quarter revenue due to strong loan growth, broad momentum on fees and a one-month boost from the recent acquisition of financial-services firm BTIG.
Kansas City Federal Reserve President Jeffrey Schmid said risks remain tilted toward inflation, while the labor market remains in balance. He said this week's inflation data showed an encouraging deceleration, but it would be premature to put too much weight on a single data point relative to recent trends. Dallas Fed President Lorie Logan said the Federal Reserve should raise interest rates to combat elevated inflation.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
