Financial stocks are the best-performing group in 2024 and, even though they're widely thought to have more room to run as a sector, a subset of them are even more favorably positioned. The S & P 500 financial sector has surged 36% so far this year, outpacing both the communication services and information technology sectors that contain all the high-flying mega-cap technology stocks.
The technical setup for all financial stocks — which have broken out to new highs and are in a bull market — is also encouraging, but that backdrop might especially benefit fast-growing financial technology companies, according to Rob Ginsberg, technical analyst at Wolfe Research.
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