KBW Bank Index Hits 8-Month High, Up 144% From March

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KBW Bank Index Hits 8-Month High, Up 144% From March

By Mark Perry on August 12, 2009 | More Posts By Mark Perry | Author's Website

The KBW Bank Sector (^BKX) Index is a capitalization-weighted index composed of 24 geographically diverse stocks representing national money center banks and leading regional institutions including Bank of America (BAC), Citigroup (C), Comerica (CMA), JP Morgan Chase (JPM), Wells Fargo (WFC), etc.

The KBW Index closed Monday at almost an 8-month high of 45.53, the highest close since mid-December 2008. From the bottom in early March, the KBW Index is up by a whopping 144.5% (see chart above). Yet another sign that the U.S. financial sector is healing, and another sign of general economic recovery taking place in the U.S. economy and financial markets.

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