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Financial stocks are on track for a broad rally on Friday, as first-quarter profits released by heavyweights in the sector, J.P. Morgan Chase & Co.
JPM, + 3.51%
and Wells Fargo & Co.
WFC -3.29%
provide a boost. ETF SPDR Financial Select Sector
XLF, + 1.03%
rebounded 1.6% ahead of the opening, with shares of J.P. Morgan up 2.7% and Wells Fargo up slightly by 0.2%. Among the banks to publish their results Monday, the shares of Citigroup Inc.
C + 1.15%
rebounded 1.9% and Goldman Sachs Group Inc.
GS + 2.11%
increased by 2.1%. Elsewhere, shares of Bank of America Corp.
LAC + 1.87%
which is scheduled for Tuesday, rose 1.8% and Berkshire Hathaway Inc.
BRK.B, + 1.47%
nailed on 0.8%. In the meantime, the future
YMM9, + 0.87%
for the Dow Jones Industrial Average
DJIA, + 0.74%
increased by 241 points, or 0.9%.
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