Banks, Brokers Surge as Jobs Report Suggests Fed Can Raise Rates

August 5, 2016 10:05 AM EDT

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Financial stocks are sharply higher as today's strong job numbers increase the chances of a rate hike this year.

Financial Stocks on the Move:

Bank of America (NYSE: BAC) +3.5%
Citigroup (NYSE: C) +3.3%
Goldman Sachs (NYSE: GS) +2%
JPMorgan (NYSE: JPM) +3%
Morgan Stanley (NYSE: MS) +3%
Wells Fargo (NYSE: WFC) +1.3%

Brokers are also higher for the same reason:

TD Ameritrade (NASDAQ: AMTD) +3.7%
E*TRADE Financial (NASDAQ: ETFC) +3.2%
Raymond James Financial (NYSE: RJF) +2.4%
Charles Schwab (NYSE: SCHW) +4.3%

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