David Tepper called US banks a “good” sector

The hedge fund-manager David Tepper boosted US small business confidence as commenting on S&P 500 eight record over past nine sessions. Bank of America and Citigroup inc. rose by 1.3%, S&P 500 did a 0.4% jump and Dow Jones Industrial Average grew by 0.3%. According to JP Morgans global market strategist Dan Morris “The liquidity will continue to support markets though there will be a price to pay in the future”, having in mine the economy growth perhaps. There is a ongoing growth of confidence in small business. That was supported by the National Federation of Independent Businesss index which came out today.

The US bull market is in its fifth year, S&P 500 surged 141% from year 2009, exceeding the estimations for corporate earnings and bond purchasing by the Fed.