Shares of banks, lenders and other financial companies rose as Treasury yields ticked up. Treasury yields have been on the wane in recent sessions as investors reconsider assumptions that the U.S. would raise rates at a more pronounced pace than other major central banks. "The aftermath of the last big surge in the Dow in 2014, after which markets were flat or down for two years, should be a cautionary tale," said Brad McMillan, chief investment officer at Commonwealth Financial, in a note to clients. In response to the bitcoin investment craze, two Commodity Futures Trading Commission advisory committees, which include both regulators and industry participants, will meet in late January to address issues related to policing activity on virtual-currency exchanges and other unique issues with the emerging asset class. A Western Union unit will pay $60 million to the state of New York to resolve an investigation into whether it had appropriate safeguards to prevent wire fraud and money laundering.
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(END) Dow Jones Newswires
January 04, 2018 16:34 ET (21:34 GMT)