U.S. financial stocks inched higher Monday, raising expectations that banks’ quarterly earnings and a key measure on consumer prices will signal that economic conditions remain strong.
Wells Fargo shares climbed 1.1%, JPMorgan Chase rose 0.6% and BlackRock increased 0.9%. All three financial firms are among those due to report second-quarter results on Tuesday, when investors will also receive a June reading on the U.S. Bureau of Labor Statistics’s monthly consumer-price index.