The U.S. financial sector started the week higher, extending the rally from the previous session as President-elect Barack Obama's plan to boost infrastructure spending to create jobs lifted markets around the globe.

An exchange-traded fund tracking large-cap financial stocks, Financial Select Sector SPDR Fund, was up 4% in afternoon dealings Monday. The ETF jumped more than 8% on Friday after Hartford Financial Services Group Inc.'s efforts to reassure investors helped push the sector higher.

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