Shares of banks and other financial institutions rose as reports of an imminent deal to reopen the Strait of Hormuz triggered euphoria on global markets.
Shares of some of the highest risk firms, such as Wall Street brokers, notched the biggest gains, with Goldman Sachs Group and Morgan Stanley each rising roughly 3%.
Wells Fargo rose slightly after the San Francisco lender unveiled plans to launch tokenized deposits for corporate and commercial clients this fall, the latest sign that big banks are embracing the world of digital assets.
Fidelity Investments' assets under administration hit $19.9 trillion at the end of the second quarter, a 22% jump from the same period a year ago because of market appreciation and a surge in investor activity.
Write to Rob Curran at rob.curran@dowjones.com
