Financial Sector (XLF) Stronger on Better Jobs Report
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Financial Select Sector SPDR (NYSE: XLF) is putting in a good showing Friday on the back of a better-than-expected jobs numbers.
Government data on Friday showed the economy added 175 thousand nonfarm payroll jobs in May. This was ahead of economist expectations calling for gains of 163 thousand. The unemployment rate in May ticked up slightly to 7.6% vs 7.5% in April.
Among the sector leaders, The Goldman Sachs Group, Inc. (NYSE: GS) is up 2.1%, Morgan Stanley (NYSE: MS) is up 2.1%, Wells Fargo & Company (NYSE: WFC) is up 0.9%, Citigroup, Inc. (NYSE: C) is up 0.7%, JPMorgan Chase & Co. (NYSE: JPM) is up 0.5%, Bank of America Corporation (NYSE: BAC) is down fractionally.
The XLF is up 1% to $19.83, and is closing in on its 52-week high of $20.35.
Government data on Friday showed the economy added 175 thousand nonfarm payroll jobs in May. This was ahead of economist expectations calling for gains of 163 thousand. The unemployment rate in May ticked up slightly to 7.6% vs 7.5% in April.
Among the sector leaders, The Goldman Sachs Group, Inc. (NYSE: GS) is up 2.1%, Morgan Stanley (NYSE: MS) is up 2.1%, Wells Fargo & Company (NYSE: WFC) is up 0.9%, Citigroup, Inc. (NYSE: C) is up 0.7%, JPMorgan Chase & Co. (NYSE: JPM) is up 0.5%, Bank of America Corporation (NYSE: BAC) is down fractionally.
The XLF is up 1% to $19.83, and is closing in on its 52-week high of $20.35.
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