Bank stocks rise on decision to nominate Jerome Powell for second
![Bank stocks rise on decision to nominate Jerome Powell for second term as Fed chair](https://i-invdn-com.investing.com/news/LYNXMPECBE0OL_L.jpg)
© Reuters.
NEW YORK (Reuters) – Shares in U.S. banks rose on Monday after Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden.
The bank index was up 1.45%, on pace for its biggest daily percentage gain in 5 weeks.
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