Financial stocks power broadly higher, as J.P. Morgan Chase sees biggest gain in 18 months

Financial stocks enjoyed broad gains Monday, with the sector the best performer of the S&P 500's 11 major sectors, after J.P. Morgan Chase & Co. raised its outlook for net interest income (NII). The SPDR Financial Select Sector ETF charged 3.8% higher in midday trading, with all 66 equity components gaining ground. The group was led by J.P. Morgan Chase & Co.'s stock , which shot up 7.5%, to also pace the Dow Jones Industrial Average's gainers, after the bank raised its 2022 NII outlook to more