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Nov. 22, 2021, 10:00 a.m. EST

Bank stocks rise as Powell earns Biden nomination for second Fed term

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By Steve Gelsi

Bank stocks rose on Monday after President Joe Biden on Monday nominated Jerome Powell for a second term at the U.S. Federal Reserve. The KBW Nasdaq Bank Index advanced by 1.3%, JPMorgan Chase & Co. /zigman2/quotes/205971034/composite JPM -1.75% rose by 1.8%, Citigroup /zigman2/quotes/207741460/composite C -1.85% rose by 1.4% and Goldman Sachs /zigman2/quotes/209237603/composite GS -1.20% advanced by 2%. Wells Fargo /zigman2/quotes/203790192/composite WFC -2.42% moved up by 2.2%.

/zigman2/quotes/205971034/composite
US : U.S.: NYSE
$ 145.08
-2.58 -1.75%
Volume: 20.71M
Jan. 21, 2022 4:00p
P/E Ratio
9.46
Dividend Yield
2.76%
Market Cap
$428.75 billion
Rev. per Employee
$497,080
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/zigman2/quotes/207741460/composite
US : U.S.: NYSE
$ 63.27
-1.19 -1.85%
Volume: 28.64M
Jan. 21, 2022 4:02p
P/E Ratio
6.27
Dividend Yield
3.22%
Market Cap
$125.55 billion
Rev. per Employee
$381,305
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 343.91
-4.19 -1.20%
Volume: 4.90M
Jan. 21, 2022 4:00p
P/E Ratio
5.79
Dividend Yield
2.33%
Market Cap
$115.14 billion
Rev. per Employee
$1.60M
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/zigman2/quotes/203790192/composite
US : U.S.: NYSE
$ 53.67
-1.33 -2.42%
Volume: 38.36M
Jan. 21, 2022 4:02p
P/E Ratio
10.78
Dividend Yield
1.49%
Market Cap
$208.55 billion
Rev. per Employee
$306,881
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