Shares of banks and other financial institutions rose ahead of earnings from major banks later in the week.
Analysts have aired some concerns about the impact of commercial real-estate weakness on second-quarter bank profits. Investors also anticipate that large banks will benefit from strong financial markets and a resurgence in corporate merger activity.
The financial sector could draw more buyers because of its cyclical nature as the bull market "broadens out," said Ryan Detrick, chief market strategist for financial-advice consultancy the Carson Group.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-09-24 1739ET
