Banks, lenders and other financial companies rose slightly as traders bet the jobs report was strong enough to keep the Federal Reserve on track for rate increases. The Fed is targeting three rate increases this year, and signs that wage growth was running in line with economists' expectations will likely keep that plan on track, said analysts at brokerage Bank of America Global Research, in a note to clients. Wages are one of the first areas of the economy to register an uptick in inflation.
-Rob Curran, email@example.com
Continue Reading Below
(END) Dow Jones Newswires
January 05, 2018 16:52 ET (21:52 GMT)