First, the change can be explained by higher interest rates and higher commodity prices. This is stoking demand for “cyclical” companies like industrials and financials that benefit from more gross domestic product. Many of these companies struggled before the crisis and are now being rediscovered for the first time in years.
The S&P 500 rose 3.3 percent between Friday, September 21, and Friday, September 28. It was the biggest weekly gain since the end of June 29 – July 2.