Banks, lenders and other financial companies rose amid bets jobs data would support an aggressive rate-increase cycle.
Federal Reserve Bank of San Francisco President John Williams said he anticipates one further interest-rate increase this year and three more in 2018, a more aggressive program than futures markets had priced in until recently.
Shares of the SPDR Select Sector Financial exchange-traded fund, a basket of banks, lenders and financial institutions, rose by more than 1% to its highest level since the financial crisis.
Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
October 05, 2017 17:11 ET (21:11 GMT)