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June 2, 2020, 8:58 a.m. EDT

American Express, J.P. Morgan Chase stocks rally to lead the Dow's gainers

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By Tomi Kilgore

Financial stocks were set for a broad rally Tuesday, with the SPDR Financial Select Sector ETF /zigman2/quotes/209660484/composite XLF +3.44% climbing 1.2% in premarket trading. The top two early gainers among the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA +1.44% components were financial stocks, with shares of American Express Co. /zigman2/quotes/203805826/composite AXP +2.94% rising 1.8% and J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM +5.47% gaining 1.5%. Fellow Dow component Goldman Sachs Group Inc.'s stock /zigman2/quotes/209237603/composite GS +4.44% rose 1.0%. Meanwhile, Dow futures /zigman2/quotes/210407078/delayed YM00 +1.60% advanced 150 points, or 0.6%. Among other more actively traded financial stocks in the premarket, Bank of America Corp. /zigman2/quotes/200894270/composite BAC +5.49% rallied 1.8%, Wells Fargo & Co. /zigman2/quotes/203790192/composite WFC +5.95% climbed 1.9% and Citigroup Inc. /zigman2/quotes/207741460/composite C +6.47% tacked on 2.2%. Helping provide a lift to bank stocks, the yield on the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +6.06% rose 1.3 basis points to 0.675%. Higher longer-term rates can help boost bank profits, as that can widen the spread banks earn on longer-term assets, such as loans, that are funded by shorter-term liabilities.

/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 23.46
+0.78 +3.44%
Volume: 94.44M
July 10, 2020 4:00p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,075.30
+369.21 +1.44%
Volume: 337.36M
July 10, 2020 5:09p
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/zigman2/quotes/203805826/composite
US : U.S.: NYSE
$ 93.23
+2.66 +2.94%
Volume: 4.40M
July 10, 2020 4:02p
P/E Ratio
14.13
Dividend Yield
1.84%
Market Cap
$72.91 billion
Rev. per Employee
$733,559
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 96.27
+4.99 +5.47%
Volume: 28.95M
July 10, 2020 4:00p
P/E Ratio
10.87
Dividend Yield
3.74%
Market Cap
$278.13 billion
Rev. per Employee
$497,647
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 205.56
+8.73 +4.44%
Volume: 4.41M
July 10, 2020 4:00p
P/E Ratio
11.17
Dividend Yield
2.43%
Market Cap
$67.69 billion
Rev. per Employee
$1.34M
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 25,980.00
+409.00 +1.60%
Volume: 229,539
July 10, 2020 3:59p
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/zigman2/quotes/200894270/composite
US : U.S.: NYSE
$ 24.02
+1.25 +5.49%
Volume: 81.14M
July 10, 2020 4:00p
P/E Ratio
9.80
Dividend Yield
3.00%
Market Cap
$197.54 billion
Rev. per Employee
$543,289
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 25.47
+1.43 +5.95%
Volume: 56.48M
July 10, 2020 4:02p
P/E Ratio
8.99
Dividend Yield
8.01%
Market Cap
$98.56 billion
Rev. per Employee
$392,114
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 52.65
+3.20 +6.47%
Volume: 28.03M
July 10, 2020 4:02p
P/E Ratio
7.30
Dividend Yield
3.87%
Market Cap
$102.95 billion
Rev. per Employee
$479,167
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
0.65
+0.04 +6.06%
Volume: 0.00
July 10, 2020 4:58p
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