Shares of banks and other financial institutions rose as traders anticipated a reduction in interest rates would buoy lending profits.

Shares of most major U.S. banks such as JPMorgan Chase, Bank of America and Goldman Sachs are up by 2.5% or more for the week.

Wall Street's Jefferies Financial Group and Japan's Sumitomo Mitsui Financial Group strengthened ties in an effort for both to reach more companies and private-equity firms globally with their services on mergers and acquisitions, borrowing and investing money, and other work.

Investment firm Blackstone has chosen another top female executive, Katie Keenan, to head its real-estate megafund following the fatal shooting of the fund's former chief executive officer, Wesley LePatner.