Banks led the market higher today following a positive earnings report by American Express. The KBW Banking Index rose 3.26% and the KBW Regional Banking Index rose 2.61%. The S&P 500 Index was up 1.09%.

The Bank Index was led by Zions Bancorporation, Bank of America, and Citigroup, which were up 15.50%, 8.33%, and 6.61%, respectively. Lagging on the day were State Street Corporation, Capital One, and SunTrust, which had losses of 4.20%, 3.61%, and 3.33%.

Leading the Regional Banking Index were Prosperity Bancshares, South Financial Group, and Sterling Bancshares, which were up 8.06%, 7.02%, and 6.11%, respectively. Offsetting these were Citizens Republic Bancorp, TCF Financial Corporation, and UCBH Holdings, which had losses of 10.88%, 3.68%, and 3.36%.