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

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