TFC - Financial stocks climb as Biden's $1.9T stimulus package moves forward

Financial stocks are broadly on the rise as the prospect of another large fiscal stimulus bill improves.Senate Majority Leader Chuck Schumer said both chambers of Congress will start a process that will allow President Biden's $1.9T stimulus plan to pass without Republican votes.The 10-year Treasury yield rises 2 basis points to 1.10%, indicating investors are more confident about prospects for the economy.SPDR S&P Bank ETF ([[KBE]] +2.6%) gains; if the session's recent increase holds until the close it will be the ETF's largest rise since Jan. 6.All of the U.S.-based megabanks are up ~3% or more — Citigroup ([[C]] +3.0%), Bank of America ([[BAC]] +3.8%), JPMorgan Chase ([[JPM]] +3.5%), Wells Fargo ([[WFC]] +3.0%), Goldman  Sachs ([[GS]] +4.2%), and Morgan Stanley ([[MS]] +4.5%).SPDR S&P Regional Banking ETF ([[KRE]] +2.9%) also rises strongly; by name, U.S. Bancorp ([[USB]] +4.0%), PNC Financial ([[PNC]] +3.7%), Axos Financial ([[AX]] +4.7%), Truist Financial ([[TFC]] +4.1%).With the

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Financial stocks climb as Biden's $1.9T stimulus package moves forward