Shares of banks and lenders pushed higher amid a shift to economically sensitive companies.
Federal Reserve Bank of Minneapolis President Neel Kashkari, who has been one of the central bank's biggest supporters of providing stimulus to help the economy navigate the coronavirus pandemic, said he now believes more aggressive monetary policy actions will be needed to deal with high inflation.
In an essay posted on the bank's website, Mr. Kashkari also said he supported the Fed decision last month to accelerate the drawdown of its asset-buying stimulus effort.
Private-equity firm TPG launched its roadshow pitch to investors, seeking a valuation as high as $9.5 billion in its initial public offering, moving into the final stretch of a process that has been months in the making.
The crisis engulfing China Evergrande Group deepened, as the embattled property developer said it had been ordered to tear down dozens of buildings on an extravagant man-made island in southern China. At the same time, Evergrande released data showing its much-publicized financial stress had largely halted sales of new homes, depriving it of an important source of cash.
Real estate owner CBRE Investment Management said it has agreed to buy a global portfolio of logistics properties valued at $4.9 billion, representing one of the largest sales ever of industrial property.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
01-04-22 1720ET
