The markets are grinding higher again today. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $140.93, +0.66 (+0.47%). This continued float higher is being driven by the banks. Just last week, JPMogran Chase & Co. (NYSE:JPM) announced a share repurchase program and upped their dividend. In addition, a new staged stress test helped the other banks jump dramatically. Bank of America Corp (NYSE:BAC) is trading up over 100% in the last three months.
In addition to the continued bullish move on the banks, Apple Inc. (NASDAQ:AAPL) announced a share repurchase program as well as a dividend. While not as good as the market was hoping, the dividend is seeing buying from funds that rely on dividends to keep the price higher.