When the Dow Jones industrial average surged to a record 9,544.97 on Wednesday, bank stocks were hanging onto the coattails of the rally rather than leading it.

In the first three trading days of the year, the Dow gained 3.7%, the Standard & Poor's 500 3.4%, and the S&P bank index 3.3%.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.