JPM along with other bank stocks and XLF got a nice push last week on the news of Democrats winning the Senate. It is believed that a blue government will result in more stimulus and loan packages for the economy. This will inherently increase interest rates as demand for loans increase, benefiting banks. On the other hand, the FED is committed to suppressing interest rates for the foreseeable future which is why banks have lagged in the recovery process relative to the S&P 500. The topic is complex and continuously developing, but banks have momentum and money flowing into the sector as it continues to play catchup to the broader market. We could see a continuation push higher in the coming weeks, however will have to closely monitor the FED's actions and the Democratic agenda.