Financial stocks are on track for a broad rally Friday, as better-than-expected first-quarter earnings reports from sector heavyweights J.P. Morgan Chase & Co. (JPM) and Wells Fargo & Co. (WFC) providing a boost. The SPDR Financial Select Sector ETF (XLF) rallied 1.6% ahead of the open, with shares of J.P. Morgan ( ) surging 2.7% and Wells Fargo ( ) edging up 0.2%. Among banks scheduled to report results on Monday, shares of Citigroup Inc. (C) rallied 1.9% and Goldman Sachs Group Inc. (GS) hiked up 2.1%. Elsewhere, shares of Bank of America Corp. (BAC), which is scheduled to report on Tuesday, rose 1.8% and Berkshire Hathaway Inc. (BRKA) tacked on 0.8%. Meanwhile, futures for the Dow Jones Industrial Average rose 241 points, or 0.9%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 12, 2019 09:00 ET (13:00 GMT)
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