Summary: Stocks jumped after the latest reading on the U.S. labor market brought relief over the strength of the economy. The S&P 500 reversed all losses suffered in the Brexit selloff and the Dow returned to a level above 18,000. Banking stocks spiked as the jobs report reintroduced the possibility of a rate hike this year. Bank of America , Wells Fargo , Citigroup and JPMorgan each moved higher after the release. Juno Therapeutics slumped after the FDA put one of its cancer drugs on a mid-stage clinical hold after the death of two patients undergoing treatment. The biotech company has requested the trial continue without the use of the chemical suspected as a factor in the deaths. Humana was downgraded to NEUTRAL from OVERWEIGHT at JPMorgan. The firm sees a lower probability of a deal with Aetna given regulatory hurdles.
