NEW YORK—Diversified financial-services stocks surged with the broader market on Thursday, as the U.S. dollar was boosted by indications that the Federal Reserve plans to keep inflation in check. The rising dollar in turn pushed down crude oil prices.
Investors were cheered by economic data showing that consumer spending was higher than expected in March and U.S. manufacturing contracted less than expected in April.
Where shares of some diversified financial companies closed on Thursday:
JPMorgan Chase & Co., up $1.60, or 3.4 percent, to $49.25.
Bank of America Corp., up $1.85, or 4.9 percent, to $39.39.
CIT Group Inc., up $1.10, or 10.1 percent, to $11.99.
Citigroup, up $1.04, or 4.2 percent, to $25.99.
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