Financials Higher Ahead of Fed Meeting -- Financials Roundup

Banks, lenders and other financial companies rose ahead of the Federal Reserve meeting this week.

"Financials have started to find some strength on hopes that this week the Fed will announce when it will start to reduce its balance sheet, which should lead to higher rates which are beneficial to the group," said Ryan Detrick, senior investment strategist at brokerage LPL Financial.

The price of Bitcoin rebounded Monday after crashing more than 30% at one stage last week after reports that China was preparing to shut down digital-currency exchanges. Now, Chinese regulators have decided on a comprehensive ban on channels for the buying or selling of the virtual currency in China that goes beyond plans to shut commercial Bitcoin exchanges, The Wall Street Journal reported.

Rob Curran,

(END) Dow Jones Newswires

September 18, 2017 16:44 ET (20:44 GMT)