Shares of banks and other financial institutions rose as traders rotated into the sector.
The U.S. District Court for the Southern District of New York entered a consent order against FTX Trading and Alameda Research, requiring them to pay $12.7 billion in monetary relief to fraud victims, resolving Commodity Futures Trading Commission litigation.
Howard Hughes Holdings rose after the Texas real-estate development company, which traces its roots back to the Nevada lands originally developed by Texas billionaire of the same name, and was once owned by General Growth Properties, received a roughly $3 billion buyout offer from billionaire Bill Ackman's Pershing Square Capital Management.
Goldman Sachs Group has started allowing certain asset-management clients, namely insurance companies, to invest alongside it when it loans money to borrowers including private-credit funds and nonbank lenders such as mortgage providers.
Allianz, Europe's largest insurer, posted roughly $2.74 billion in net profit for the three months ended in June, topping the average Wall Street target.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-08-24 1816ET
