Financials lead S&P 500 in near-breakouts, with 20 of 76 within 10% of 52-week highs

A CNBC screen found that about a quarter of S&P 500 financial stocks—20 of 76—are within 10% of their 52-week highs, but have gone at least 100 days without setting a new high, including JPMorgan Chase, Bank of America, Chubb and Travelers. The Invesco KBW Bank ETF (KBWB) hit a record on Wednesday, its first since the fund’s 2011 inception, while JPMorgan and Bank of America notched their first intraday record highs since early January. Analysts and market participants point to a pickup in IPO and M&A activity that is lifting fee-based revenue, alongside bank fundamentals that have remained resilient in “bear flattening” rate periods, according to CNBC.