Hopes of deregulation are part of why financial stocks are up. And investors may be moving some money out of an overvalued tech sector. The bottom line is that US bank stocks hit a post-crisis high according to The Financial Times.
US financial stocks closed at the highest level in nearly 10 years on Tuesday as hopes for deregulation of banks grow and investors ditch technology stocks for the previously unloved banking sector.
Shares of some of the country’s largest lenders, including Citigroup, Bank of America and JPMorgan, climbed more than 1 per cent on Tuesday, pushing the S&P 500 financial index […]