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There Is a Major Market Rotation Back Into Bank Stocks Happening

Kinsey Grant

The KBW Nasdaq Bank Index (BKX) has pushed 3.2% higher in the last two sessions, nearly doubling the performance of the broader market. Financials have performed well following the Federal Reserve's stress tests in late June. Wall Street is also anticipating - optimistically, it would seem - bank earnings over the next two weeks as the sector kicks off second-quarter earnings season.