Financials Up After Strong Earnings - Financials Roundup
Shares of banks and other financial institutions rose after generally strong earnings.
Shares of Blackstone rallied after it posted third-quarter distributable earnings above Wall Street targets. Chief Executive Steve Schwarzman said the boost to the firm's infrastructure investments from the AI boom was offset by the impact of rising interest rates on other parts of its operations. Rising interest rates weighed on Blackstone's net realizations, for example, which reflect proceeds from sales of assets. Net realizations plunged 49% decline in its private-equity unit, reflecting the slowdown in deal activity.
Nasdaq shares rose sharply after the exchange operator's third-quarter earnings growth topped analysts' expectations.
Shares of British bank Barclays fell slightly after it warned it planned to lay off 5,000 employees and lean on artificial intelligence for more activities.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 22, 2026 17:30 ET (21:30 GMT)
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