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 ). This includes names like JPMorgan Chase (NYSE: JPM ), Bank of America (NYSE: BAC ), Citigroup (NYSE: C ), and Wells Fargo (NYSE: WFC ). 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.