Shares of Bank of America Corp. surged 3.6% toward a fifth straight gain in morning trading Friday, as they got a big boost from October jobs data, which fueled hopes that interest rates may have peaked. BofA’s stock was up a scant 0.1% in the premarket just before the jobs data was released. It has now run up 13.76% during its five-session win streak, which kicked off after the stock closed at a 3-year low of $25.17 on Oct. 27. Shares of BofA’s peers also rallied after the data. Shares of JPMorgan Chase & Co. JPM rose 1.4%, after being little changed just before the data was released; Citigroup Inc.’s stock C climbed 3.3%, after being flat per-data; and Wells Fargo & Co. shares WFC ran up 2.9%, after being up 0.2% before the data. Meanwhile, the S&P 500 SPX gained 0.9%, compared with a 0.1% decline in the SPDR S&P 500 ETF SPY just before the data.
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