Shares of banks and other financial institutions rose amid deal activity.
Ohio-based Huntington Bancshares reached an agreement to buy mid-sized southern bank Cadence for $7.4 billion, a deal that follows Fifth Third Bancorp's recent agreement to buy Comerica, part of a new wave of bank consolidation.
Rival investment firms Trian Fund Management, which already owns a substantial stake in money manager Janus Henderson, and General Catalyst offered to buy money manager Janus Henderson for about $7.2 billion, claiming it would operate better as a private company.
The U.S. consumer credit cycle is emerging as a focal point for markets amid signs of stress at the margins, said analysts at brokerage Morgan Stanley, in a note to clients.
President Trump said be may announce before year-end his pick to succeed Federal Reserve Chair Jerome Powell, whose term expires next May, and is on track to choose from five finalists, including governors Christopher Waller and Michelle Bowman.
Shares of Berkshire Hathaway fell after analysts at brokerage Keefe, Bruyette & Woods cut their rating on Warren Buffett's investment conglomerate, citing lower interest rates, pressure from tariffs and a wind-down in energy tax credits.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 27, 2025 17:02 ET (21:02 GMT)
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