“Whitney cited several factors that will lead bank stocks to rise in the near term, particularly the results of the Federal Reserve’s stress test in January, CNBC reported,” Reuters said. “Bank of America, for instance, will be able to quadruple its dividend after passing that test, Whitney said, according to CNBC.”
Financial stocks are on pace to outperform the rest of the stock market this year for the first time since the financial crisis, CNNMoney reports. Traders said rising Treasury yields and an improving housing market could provide more fuel for bank shares.
Financial Select Sector SPDR
