Financials Higher on Rate View -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies rose amid anticipation of higher interest rates.

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The Financial Select Sector SPDR exchange-traded fund, or XLF, which tracks the Standard & Poor's 500 financial index, rose to a near decade high.

On Tuesday, Federal Reserve Chairwoman Janet Yellen said she would be wary of the central bank moving too gradually on rate increases. Ms. Yellen and several other Fed officials have indicated the central bank is ready to raise rates in December as long as economic data hold strong.

On Wednesday, the Republican Party released its plan for tax cuts, which should further boost the economic outlook.

On Fed funds futures markets, where investors trade the outlook for interest rates, the odds of a December increase moved up to roughly 83% Wednesday.

Carlyle Group is in talks to sell a stake in bond manager TCW Group to bidders including Japan's Nippon Life Insurance and Mitsubishi UFJ Financial Group, The Wall Street Journal reported.

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Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 27, 2017 16:27 ET (20:27 GMT)