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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 -2.05% climbing 1.2% in premarket trading. The top two early gainers among the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA -1.24% components were financial stocks, with shares of American Express Co. /zigman2/quotes/203805826/composite AXP -2.45% rising 1.8% and J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM -1.81% gaining 1.5%. Fellow Dow component Goldman Sachs Group Inc.'s stock /zigman2/quotes/209237603/composite GS -2.75% rose 1.0%. Meanwhile, Dow futures /zigman2/quotes/210407078/delayed YM00 -1.30% 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 -2.01% rallied 1.8%, Wells Fargo & Co. /zigman2/quotes/203790192/composite WFC -2.20% climbed 1.9% and Citigroup Inc. /zigman2/quotes/207741460/composite C -2.49% 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 -8.36% 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
$ 22.70
-0.47 -2.05%
Volume: 48.56M
July 9, 2020 2:50p
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,743.57
-323.71 -1.24%
Volume: 269.74M
July 9, 2020 2:51p
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/zigman2/quotes/203805826/composite
US : U.S.: NYSE
$ 90.62
-2.28 -2.45%
Volume: 2.98M
July 9, 2020 2:51p
P/E Ratio
13.71
Dividend Yield
1.90%
Market Cap
$74.78 billion
Rev. per Employee
$733,559
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 91.62
-1.69 -1.81%
Volume: 17.19M
July 9, 2020 2:51p
P/E Ratio
10.36
Dividend Yield
3.92%
Market Cap
$284.29 billion
Rev. per Employee
$497,647
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 196.69
-5.56 -2.75%
Volume: 2.33M
July 9, 2020 2:50p
P/E Ratio
10.72
Dividend Yield
2.53%
Market Cap
$69.55 billion
Rev. per Employee
$1.34M
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 25,632.00
-337.00 -1.30%
Volume: 200,364
July 9, 2020 1:41p
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/zigman2/quotes/200894270/composite
US : U.S.: NYSE
$ 22.64
-0.46 -2.01%
Volume: 50.12M
July 9, 2020 2:51p
P/E Ratio
9.24
Dividend Yield
3.18%
Market Cap
$200.41 billion
Rev. per Employee
$543,289
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 24.01
-0.54 -2.20%
Volume: 28.15M
July 9, 2020 2:51p
P/E Ratio
8.48
Dividend Yield
8.49%
Market Cap
$100.65 billion
Rev. per Employee
$392,114
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 49.62
-1.27 -2.49%
Volume: 18.08M
July 9, 2020 2:51p
P/E Ratio
6.88
Dividend Yield
4.11%
Market Cap
$105.92 billion
Rev. per Employee
$479,167
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/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
0.61
-0.06 -8.36%
Volume: 0.00
July 9, 2020 2:50p
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