Financial Stocks Posting Strong Gains On Upbeat Jobs Data

(RTTNews) - Financial stocks are seeing significant strength during trading on Friday, as upbeat jobs data has generated optimism about the economic outlook.

Reflecting the strength in the financial sector, the NYSE Arca Broker/Dealer Index and the Dow Jones Banks Index are up by 2.8 percent and 2.7 percent, respectively.

The strength among financial stocks comes following the release of a report from the Labor Department showing much stronger than expected job growth for the second straight month.

The report said non-farm payroll employment surged up by 255,000 jobs in July after jumping by an upwardly revised 292,000 jobs in June. Employment had been expected to increase by about 185,000 jobs.