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Midday Report: Pandora Jumps on Sale Reports; Banks Reverse Course

Stocks were mostly higher after U.S. jobs gains in November solidified the chances of an interest rate hike in December.

Stocks were mostly higher after U.S. jobs gains in November solidified the chances of an interest rate hike in December. The likelihood of a rate hike when the Federal Reserve meets in just over a week currently sits at 95%. Banks reversed course, giving back some of the big gains achieved as President-elect Trump filled out his Cabinet this week. Banks such as Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. (GS) Report and JPMorgan (JPM) - Get JPMorgan Chase & Co. (JPM) Report had rallied on what were seen as Wall Street-friendly Cabinet picks. Pandora (P) surged on reports the company is considering a sale. The music-streaming service is reportedly open to negotiations with SiriusXM (SIRI) - Get Sirius XM Holdings, Inc. Report , which had previously made a play for Pandora. Teleflex (TFX) - Get Teleflex Incorporated Report climbed after agreeing to acquire Vascular Solutions (VASC) in a deal worth $1 billion. The deal is set to close in the first half of next year.

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