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Dec. 6, 2019, 8:57 a.m. EST

Financial stocks get a big boost from jobs data

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By Tomi Kilgore

Financial stocks got a big lift in premarket trading Friday, as much stronger-than-expected November jobs data provided a boost to the sector and the broader stock market. The SPDR Financial Select Sector ETF /zigman2/quotes/209660484/composite XLF +0.29% rallied 1.1%, after trading unchanged just before the data. Among the sector tracker's heavily weighted components, gains in the shares of Bank of America Corp. /zigman2/quotes/200894270/composite BAC -0.03% increased to 2.0% from 0.4%, Citigroup Inc. /zigman2/quotes/207741460/composite C +0.15% to 1.7% from 0.3%, J.P. Morgan Chase & Co. /zigman2/quotes/205971034/composite JPM +0.69% to 1.3% from less than 0.1% and Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -0.10% to 1.3% from 0.3%. The U.S. Labor Department reported that nonfarm payrolls increased by 266,000 jobs in November and the unemployment rate returned to a 50-year low of 3.5% from 3.6%, compared with expectations of 180,000 jobs. Gains in the SPDR S&P 500 ETF /zigman2/quotes/209901640/composite SPY +0.31% to 0.7% from 0.2%, the SPDR Dow Jones Industrial Average ETF /zigman2/quotes/208954582/composite DIA +0.16% to 0.7% from 0.1% and the Invesco QQQ ETF /zigman2/quotes/208575548/composite QQQ +0.49% to 0.8% from 0.2%.

/zigman2/quotes/209660484/composite
US : U.S.: NYSE Arca
$ 31.03
+0.09 +0.29%
Volume: 37.43M
Jan. 17, 2020 4:10p
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/zigman2/quotes/200894270/composite
US : U.S.: NYSE
$ 34.71
-0.01 -0.03%
Volume: 52.99M
Jan. 17, 2020 4:10p
P/E Ratio
12.63
Dividend Yield
2.07%
Market Cap
$306.79 billion
Rev. per Employee
$543,289
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 81.12
+0.12 +0.15%
Volume: 12.24M
Jan. 17, 2020 4:10p
P/E Ratio
10.09
Dividend Yield
2.51%
Market Cap
$176.84 billion
Rev. per Employee
$479,167
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/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 138.20
+0.95 +0.69%
Volume: 14.37M
Jan. 17, 2020 4:10p
P/E Ratio
12.89
Dividend Yield
2.60%
Market Cap
$430.48 billion
Rev. per Employee
$497,647
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 249.46
-0.26 -0.10%
Volume: 3.02M
Jan. 17, 2020 4:10p
P/E Ratio
11.88
Dividend Yield
2.00%
Market Cap
$88.42 billion
Rev. per Employee
$1.34M
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/zigman2/quotes/209901640/composite
US : U.S.: NYSE Arca
$ 331.95
+1.03 +0.31%
Volume: 94.38M
Jan. 17, 2020 4:10p
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/zigman2/quotes/208954582/composite
US : U.S.: NYSE Arca
$ 293.27
+0.48 +0.16%
Volume: 2.14M
Jan. 17, 2020 4:10p
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/zigman2/quotes/208575548/composite
US : U.S.: Nasdaq
$ 223.38
+1.10 +0.49%
Volume: 23.45M
Jan. 17, 2020 4:00p
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