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The S&P 500 has also performed well historically around the major holidays including U.S. Independence Day, which occurs on July 4. The combination of the holiday effect and the positive trend of the market heading into second-quarter earnings season tends to give it a boost. When U.S. banks produce better than expected earnings, that helps establish a positive narrative in the stock market, helping the move higher. Given the recent problems with some regional banks, positive earnings from the bigger banks could help to alleviate concerns about the overall sector.
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