Financials Flat On Tax, Fed Doubts - Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies were flat as traders awaited further clarity on the timing of a tax-cut bill and the identity of the next Federal Reserve chairperson. Federal prosecutors are investigating foreign-exchange trading at Wells Fargo and have subpoenaed information from the San Francisco bank, The Wall Street Journal reported. Swiss bank UBS Group said third-quarter net profit rose sharply on gains in its wealth-management and investment units, the latest sign that the bank's strategy of focusing on wealthy clients while maintaining a scaled-down investment bank is bearing fruit.

Continue Reading Below

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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