Regional Banks Push Higher (RF, ZION, MI, GNW, HBAN)

Regional banks pushed largely higher during Friday’s session; it appears that investor worries are abating slightly and this is allowing high-beta names, especially those in the financial space, to run higher. • Region’s Financial RF closed higher by 4.61%, at $7.14. • Marshall & Ilsley Corp. MI closed higher by 5.30%, at $7.95. • Huntington Bancshares HBAN closed higher by 4.32%, at $5.91. • Zions Bancorporation ZION closed higher by 3.93%, at $23.26. • Genworth Financial GNW closed higher by 4.59%, at $14.59. In comparison, Financial Select Sector SPDR Fund XLF closed higher by just 1.47%, at $14.52. The gains followed a two-day rally in U.S. stocks, where the S&P 500 posted its largest weekly gain in almost a year; the index is up roughly 5% on the week.