US STOCKS-Wall St rallies, led by banks and energy stocks

viernes 12 de febrero de 2016 14:01 GYT

* Financials' gains led by rally in bank stocks

* JPMorgan jumps after CEO Dimon raises stake

* Crude surges, boosting energy, materials stocks

* Indexes up: Dow 1.5 pct, S&P 1.5 pct, Nasdaq 1.24 pct (Adds details, updates share prices)

By Aastha Agnihotri

Feb 12 (Reuters) - Wall Street rallied on Friday, led by a rebound in beaten-down financial and energy stocks after five straight days of a grueling selloff on fears over the health of the global economy and the banking sector.

Nine of the 10 major S&P sectors were higher, led by a 3.7 percent rise in the financial sector. Energy and materials stocks, both of which have been hit by slumping commodities prices, were up about 2.5 percent.

Banks stocks, which were the worst hit due to concerns about the impact of negative interest rates and a energy-backed loan defaults, were the top gainers, led by JPMorgan's near 8 percent gain.

U.S. crude oil prices soared 11 percent and Brent jumped nearly 9 percent, bouncing back from 2003-lows, on prospects for a coordinated production cut.   Continuación...