Financials Up On Tax, Rates Prospects -- Financials Roundup
Banks, lenders and other financial companies rose as the prospects of higher interest rates and lower taxes continued to draw investors to the sector.
Senate Majority Leader Mitch McConnell expressed optimism about the possibility of passing that chamber's version of the tax bill in the near future.
Federal Reserve Bank of Dallas President Robert Kaplan said he continues to advocate for "gradually and patiently" increasing interest rates.
Bitcoin fell from a peak Wednesday of over $11,000 to a low of roughly $9,100 before retesting the $10,000 level. Investors are flocking into the digital currency, which is now accessible via an over-the-counter exchange-traded fund and through a range of new "crypto currency" hedge funds.
-Rob Curran, [email protected]