The Traderszone Network

Published in TZ Latest News 24 December, 2015 by The TZ Newswire Staff

Financial sector key to final week of trading

The financials have risen more than 6 percent this quarter, with investors expecting the sector to be one of the main beneficiaries of the first interest rate hike by the U.S. Federal Reserve in nearly a decade last week. “That trade, the oil-financials, it is going to be with us for quite some time,” said Peter Kenny, equity market strategist at Kenny & Co LLC, in Denver. The benchmark S&P 500 index (.SPX) has rallied nearly 3 percent this week, buoyed by a jump of nearly 5 percent in the energy sector (.SPNY) as oil prices (LCOc1) bounced off multi-year lows.