Bank Stocks Trade Broadly Higher After J.P. Morgan Chase Results

Bank stocks were broadly bouncing in premarket trade Thursday, after J.P. Morgan Chase & Co. reported better-than-expected fourth-quarter results. The SPDR Financial ETF rose 0.5%, after closing Wednesday at the lowest level since May 15, 2014. J.P. Morgan Chase's stock, which closed Wednesday at an 11-month low, climbed 1.9% ahead of Thursday's open. Among the shares of the XLF's other more heavily-weighted components seeing early activity, Bank of America Corp.'s rose 1.1%, Citigroup Inc.'s gained 0.7% and Wells Fargo & Co.'s advanced 0.7%.