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Bank stocks rose on Monday after President Joe Biden on Monday nominated Jerome Powell for a second term at the U.S. Federal Reserve. The KBW Nasdaq Bank Index kbw advanced by 1.3%, JPMorgan Chase & Co. JPM, +2.38% rose by 1.8%, Citigroup C, +1.79% rose by 1.4% and Goldman Sachs GS, +2.25% advanced by 2%.
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