Shares of banks and other financial institutions rose as traders rotated out of technology into sectors that lagged the broad market during the second-quarter rally.
The financial industry group of the S&P 500 rose sharply and is now hovering near the flat line for the year to date, still far behind the technology group, which is up by more than 25%.
Investors have rotated back and forth between lagging sectors such as financials and tech leaders for much of the last six weeks.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
