Shares of JPMorgan Chase & Co. JPM rose by more than 3 percent Wednesday as investors and traders cheered the company's better-than-expected first quarter print.
JPMorgan's strong results helped boost the financial sector. Shares of one of the leading financial ETF's, Financial Select Sector SPDR Fund XLF, were trading higher by nearly 1.5 percent.
Related Link: JPMorgan Chase Q1 Profit Falls 7%, But Tops Expectations
Individual financial stocks were also higher on Wednesday.
Citigroup Inc C (reporting Q1 on Friday) shares traded higher by more than 3 percent, while shares of Goldman Sachs Group Inc GS (reporting April 20) were higher by more than 2.5 percent.
Wells Fargo & Co WFC (reporting Q1 on Thursday) saw its shares underperform its peers, but were still higher by more than 1 percent.
European-based banks realized over-sized gains. Shares of Credit Suisse Group AG (ADR) CS (reporting Q4 on Thursday) were higher by more than 5 percent, while Deutsche Bank AG DB (reporting Q1 April 27) saw its stock trade higher by more than 6 percent.
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