Shares of banks and other financial institutions fell in the wake of the Federal Reserve's statement, amid concerns that rate hikes would come later in the year.
Rate increases later in the year and geopolitical uncertainty are weighing on global markets, but solid earnings and a stable labor market are offsetting those impacts, said one strategist. "Right now, it looks like second-quarter earnings will be strong and exceed expectations by a significant margin, and that will most likely also hold true for third-quarter earnings," said Oliver Pursche, senior vice president at financial advisory Wealthspire.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
July 29, 2026 17:30 ET (21:30 GMT)
