Strait of Hormuz Reopening Hopes Fuel Financial Sector Rally

Wall Street brokers led the climb, with Goldman Sachs Group and Morgan Stanley shares each jumping approximately 3%. This enthusiasm rippled across the industry, though individual bank strategies remained a focus for analysts. Wells Fargo saw a modest increase following the announcement of a new tokenized deposit platform for corporate and commercial clients, signaling a deepening commitment to digital asset infrastructure among major lenders. Meanwhile, Fidelity Investments reported a significant expansion in its scale, with assets under administration reaching $19.9 trillion at the end of the second quarter. This 22% year-over-year increase reflects both the broader market appreciation and a sustained surge in investor activity throughout the period.