Chip and bank stocks have gripped spots in the Big Cap 20 for weeks now.
The bank stocks haven’t made much progress in recent weeks. While initial thrusts among them were partly related to the Federal Reserve’s tilt to raise interest rates, any new move will need a fresh catalyst.
The most likely catalyst would be earnings. For example, the consensus view on Morgan Stanley (MS) is that the company will grow earnings 16% this year, an estimate that analysts have pared.