9-28-17 4:29 PM EDT | Email Article

Banks, lenders and other financial companies ticked up as the rally inspired by the Federal Reserve's renewed resolve on rate hikes continued. The Financial Select Sector SPDR exchange-traded fund, a basket of banks and financial companies, is changing hands at the highest level in a decade. Optimism about the outlook for regional banks may be getting out of hand, according to one brokerage. "Higher rates, lower taxes, and infrastructure spending could drive upside, but Washington gridlock tempers our optimism," said analysts at brokerage Nomura Securities, in a research note.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

September 28, 2017 16:29 ET (20:29 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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