Financial stocks pare losses after data, J.P. Morgan Chase's swings to a gain

Financial stocks pared some losses in premarket trade Friday, after the the June jobs data showed that nonfarm payrolls increased by more than expected, although the unemployment rate increased. The SPDR Financial Select Sector ETF XLF, +0.23% was unchanged, after being down 0.5% just before the jobs data was released. Shares of J.P. Morgan Chase & Co. JPM, +0.65% swung to a gain of 0.1%, after being down 0.4% pre-data. Among other more-active bank stocks, Bank of America Corp.’s BAC, +0.50% slipped 0.1%, paring pre-data losses of 0.3%, while Wells Fargo & Co. shares WFC, -0.58% eased 0.1%, compared with a pre-data loss of 0.3%. Futures for the Dow Jones Industrial Average YMU8, -0.03% swung to a gain of 30 points, compared with a pre-data loss of 81 points.

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