Shares of banks and other financial institutions rose as concerns about commerical real-estate markets were offset by a boom in the stock market that shows little signs of slowing, despite seasonal trends.

In another sign of the stock-trading craze, shares or Robinhood rose in late trading following a report of increased trading volumes.

"The saying of 'sell in May and walk away...seems to work about 52% of the time since the mid 80s that's not an overwhelming majority of the time," said Oliver Pursche, senior vice president of financial advisory Wealthspire.

"As we head into the summer months, we're very likely to experience heightened volatility because trading volumes tend to be lighter..."

Any stock-market correction would be difficult to time, and not necessarily a sign of the bull market ending, Pursche noted.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

05-08-24 1726ET