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Banks Lead Rally in Stocks


wsj articleThe following is an excerpt from SAUMYA VAISHAMPAYAN and RIVA GOLD | April 13, 2016 | WSJ.com |

The beleaguered banking sector surged Wednesday, pushing the Dow Jones Industrial Average to its highest level since November.

The blue-chip index advanced 1.1% to 17908.28, tantalizingly close to the 18000 level it last hit in July. That is a sharp turnaround from February, when the Dow closed at a two-year low.

The Dow is now roughly 2% away from its record-high close of 18312.39 set in May. The index charged higher late last year following a sharp drawdown in August but ultimately fell short of the record.

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