Market recap: Stocks exploded higher after JPMorgan announced a dividend hike and buyback,...

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor
Market recap: Stocks exploded higher after JPMorgan announced a dividend hike and buyback, likely the start of a chain reaction among banks as the Fed serves up stress test results. It was a nice day to own financials: JPM +7.3%, C +6.3%, BAC +6.3%, WFC +5.8%. Treasurys extended losses, pushing long-term yields to their highest since October. NYSE gainers led losers more than three to one.