Financial stocks getting a big boost after J.P. Morgan Chase, Wells Fargo earnings beats

Financial stocks are on track for a broad rally Friday, as better-than-expected first-quarter earnings reports from sector heavyweights J.P. Morgan Chase & Co. JPM, +0.84% and Wells Fargo & Co. WFC, -0.10% providing a boost. The SPDR Financial Select Sector ETF XLF, +0.60% rallied 1.6% ahead of the open, with shares of J.P. Morgan surging 2.7% and Wells Fargo edging up 0.2%. Among banks scheduled to report results on Monday, shares of Citigroup Inc. C, +0.60% rallied 1.

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