Bank of America Corp. led bank stocks to their fourth consecutive day of gains as investors continued to use any positive comments about the industry as reason to buy stocks that have been enormously oversold.

The KBW Bank Index soared 11.23% Thursday, extending its ascent this week amid reports that companies like Citigroup Inc. and Bank of America expect to report operating earnings this quarter, plus moves in Washington to ease mark-to-market accounting rules.

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