Bank Index Hits 8-Mo. High, Up 153% from March
The KBW Bank Sector (BKX) Index is a capitalization-weighted index composed of 24 geographically diverse stocks representing national money center banks and leading regional institutions including Bank of America, Citigroup, Comerica, JP Morgan Chase, Wells Fargo, etc.
The KBW Index closed today at an 8-month high of 47.12, the highest close since early December 2008. From the bottom in early March, the KBW Index is up by a whopping 153% (see chart above). Yet another sign that the U.S. financial sector is healing, and another sign of general economic recovery taking place in the U.S. economy and financial markets.
Originally posted at Carpe Diem.