Financial companies in the U.S. and abroad pushed major indices to new highs this week, boosting the S&P 500 to the highest level since May 2008.
The S&P Financial sector is having its best week since early December, propelling the sector past technology, and reclaiming the top spot this year, up about 21 percent.
Financials powered higher this week after the Federal Reserve’s stress test showed that 15 out of 19 of America’s biggest banks passed. Bank of America was among those 15 companies. In fact, shares of BofA, which plunged 58 percent in 2011, are now up 74 percent this year.