Banks, lenders and other financial companies rose after another day of mixed results. Morgan Stanley shares rose after the second largest Wall Street investment bank scored a point against its arch-rival Goldman Sachs. Morgan Stanley reported a first-quarter profit of $1.93 billion, topping the average analyst target, buoying shares and closing the long-standing gap between it and Goldman's market capitalization. U.S. Bancorp said profit and revenue increased in the first quarter, but executives warned that demand for some loans was sluggish. The world's largest money manager by assets, BlackRock, posted increases in first-quarter revenue and assets under management, which rose 14% from a year earlier to $5.42 trillion.
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(END) Dow Jones Newswires
April 19, 2017 16:54 ET (20:54 GMT)