Growth stocks tend to do well in low interest rate environments because down-the-road profits have a higher present value. Not only is the economy heating up, but unemployment is low, inflation is starting to pick up, wage growth is coming into the picture, and the Fed is sounding more hawkish than ever. To be sure, on October 4 while the market plunged, all four major bank stocks (JPM, BAC, C, and WFC) closed higher, as did the Financial Select Sector SPDR ETF (NYSEARCA: XLF ).