History shows you can bank on financials to rise on Thursday.
As CNBC Pro reported Tuesday , many investors are betting financial stocks will become the bull market leaders this year after stress-test results come out Wednesday and banks are then able to raise their dividends and buy back stock.
Now, thanks to our friends at Kensho, we learn that history backs up this thesis, at least in the short term.
Since the Federal Reserve began the post-financial crisis stress tests in 2009, the S&P Financial Sector ETF has risen 1.7 percent, on average, the first trading day after the results. The group was positive 80 percent of the time.
Results of the stress tests for individual banks are due after the bell Wednesday. (The study looked at the more-important second round of the tests, which reveal just how big banks' capital return programs can be.)