Bank stocks rallied with the overall markets Thursday as reports indicated that the economy is continuing to rebound.
The KBW Bank Index rose 1.1%, to 43.34, on a shortened, preholiday trading day.
Stocks rose after the Labor Department said new claims for unemployment benefits fell more than expected, by 28,000, to 452,000. Separately, the Commerce Department said durable goods orders rose 2% in November, more than twice what some analysts had estimated.
The broader markets rose for a fifth consecutive day.
The Dow Jones industrial average was up 0.51%, and the Standard & Poor's 500 index, 0.53%.
Large and midsize bank stocks fared well.
JPMorgan Chase & Co. rose 0.79%; Bank of America Corp., 0.39%; Wells Fargo & Co., 0.89%, and Citigroup Inc., 6 cents a share, to $3.35.
Among regional banking companies, PNC Financial Services Group Inc. gained 1.51%; U.S. Bancorp, 1.07%; SunTrust Banks Inc., 2.27%; Regions Financial Corp., 0.93%; BB&T Corp., 0.98%, and Fifth Third Bancorp, 3.02%.
